BlackRock Fund Advisors recently announced the acquisition of new stake in Olympic Steel Inc. (NASDAQ:ZEUS). The institutional investor has increased its shareholding in the Basic Materials company by 1.20% to 1.91 million shares with purchase of 22635.0 shares. This fresh investment now brings its stake to 17.16% valued currently at $64.15 million. In addition, Dimensional Fund Advisors LP raised its holdings by 1507.0 to 0.9 million shares. And Invesco Capital Management LLC has lifted its position by 5.06% or 31546.0 shares – to 0.65 million shares.
With over 81937.0 Olympic Steel Inc. (ZEUS) shares trading Tuesday and a closing price of $41.09 on the day, the dollar volume was approximately $3.37 million. The shares have shown a positive half year performance of 49.47% and its price on 01/24/23 lost nearly -0.46%. Currently, there are 11.55M common shares owned by the public and among those 9.63M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for ZEUS have a consensus price objective of $34.50. The analysts have set the share’s price value over the next 12 months at a high of $34.50 and a low of $34.50. The average price target is -19.1% below its recent price level and a downside to the estimated low will see the stock lose -19.1% over that period. But a downside of -19.1% will see the stock hit the forecast high price target while median target price for the stock is $34.50.
Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 5,000 shares. Insider sales of the common stock occurred on 34 occasions, with total insider shares sold totaling 291,117 shares.
The top 3 mutual fund holders in Olympic Steel Inc. are iShares Core S&P Small Cap ETF, Invesco S&P SmallCap Value with M, and iShares Tr. – US Infrastructure E. iShares Core S&P Small Cap ETF owns 0.72 million shares of the company’s stock, all valued at over $24.19 million. The company sold 544.0 shares recently to bring their total holdings to about 6.47% of the shares outstanding. Invesco S&P SmallCap Value with M bought 239.0 shares to see its total holdings expand to 0.36 million shares valued at over $11.99 million and representing 3.21% of the shares outstanding. iShares Tr. – US Infrastructure E now owns shares totaling to 2.85% of the shares outstanding.
Shares of Olympic Steel Inc. (NASDAQ: ZEUS) opened at $41.10, down -$0.18 from a prior closing price of $41.28. However, the script later moved the day high at 41.49, down -0.46%. The company’s stock has a 5-day price change of 0.56% and 57.61% over the past three months. ZEUS shares are trading 22.36% year to date (YTD), with the 12-month market performance up to 94.83% higher. It has a 12-month low price of $19.92 and touched a high of $44.24 over the same period. ZEUS has an average intraday trading volume of 78.26K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.28%, 19.46%, and 34.33% respectively.
Institutional ownership of Olympic Steel Inc. (NASDAQ: ZEUS) shares accounts for 78.50% of the company’s 11.55M shares outstanding. Mutual fund holders own 23.37%, while other institutional holders and individual stakeholders account for 54.09% and 15.13% respectively.
It has a market capitalization of $445.42M and a beta (3y monthly) value of 1.79. The stock’s trailing 12-month PE ratio is 4.24, while the earnings-per-share (ttm) stands at $9.69. The company has a PEG of 0.12 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 0.48. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.63% over the week and 5.06% over the month.
Analysts forecast that Olympic Steel Inc. (ZEUS) will achieve an EPS of $0.93 for the current quarter, $0.07 for the next quarter and $1.82 for 2023. The lowest estimate earnings-per-share for the quarter is $0.86 while analysts give the company a high EPS estimate of $1. Comparatively, EPS for the current quarter was $3.87 a year ago. Earnings per share for the fiscal year are expected to decrease by -27.00%, and -71.53% over the next financial year. EPS should shrink at an annualized rate of 34.29% over the next five years, compared to 156.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Olympic Steel Inc. (ZEUS) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
KeyBanc Capital Mkts on their part issued Sector Weight rating on September 19, 2016.
