What’s in Olympic Steel, Inc. After Today’s Bearish Options Activity?

 What's in Olympic Steel, Inc. After Today's Bearish Options Activity?

In today’s session Olympic Steel, Inc. (ZEUS) recorded an unusually high (173) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious ZEUS decrease. With 173 contracts traded and 974 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: ZEUS161021P00020000 closed last at: $0.65 or 18.2% up. About 44,848 shares traded hands. Olympic Steel, Inc. (NASDAQ:ZEUS) has risen 63.87% since March 2, 2016 and is uptrending. It has outperformed by 55.61% the S&P500.

Analysts await Olympic Steel, Inc. (NASDAQ:ZEUS) to report earnings on November, 3. They expect $0.44 earnings per share, up 980.00% or $0.49 from last year’s $-0.05 per share. ZEUS’s profit will be $4.64 million for 12.09 P/E if the $0.44 EPS becomes a reality. After $0.38 actual earnings per share reported by Olympic Steel, Inc. for the previous quarter, Wall Street now forecasts 15.79% EPS growth.

Olympic Steel, Inc. (NASDAQ:ZEUS) Ratings Coverage

Out of 2 analysts covering Olympic Steel Inc (NASDAQ:ZEUS), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Olympic Steel Inc has been the topic of 8 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Sector Weight” rating by KeyBanc Capital Markets given on Monday, September 21. The rating was upgraded by KeyBanc Capital Markets to “Sector Weight” on Monday, September 19. On Friday, August 19 the stock rating was downgraded by KeyBanc Capital Markets to “Underweight”. The rating was upgraded by Jefferies on Monday, August 24 to “Buy”. The stock has “Buy” rating given by Jefferies on Wednesday, January 13. Jefferies downgraded it to “Hold” rating and $16 target price in Monday, March 21 report.

According to Zacks Investment Research, “OLYMPIC STEEL INC. is a specialized steel service center that processes and distributes flat- rolled carbon, stainless and tubular steel products. Co. operates as an intermediary between steel producers and manufacturers that require processed steel for their operations. Co. purchases flat-rolled steel typically from steel producers and responds to its customers’ needs by processing steel to customer specifications and by providing critical inventory and just-in-time delivery services.”

Insitutional Activity: The institutional sentiment increased to 1.81 in Q2 2016. Its up 0.28, from 1.53 in 2016Q1. The ratio is positive, as 8 funds sold all Olympic Steel, Inc. shares owned while 29 reduced positions. 31 funds bought stakes while 36 increased positions. They now own 7.84 million shares or 10.14% more from 7.12 million shares in 2016Q1.
Van Eck Associates Corporation accumulated 0% or 15,565 shares. The Ontario – Canada-based Hillsdale Mgmt Inc has invested 0.11% in Olympic Steel, Inc. (NASDAQ:ZEUS). Goldman Sachs Gru, a New York-based fund reported 43,478 shares. South Dakota Inv Council accumulated 0.04% or 62,860 shares. Employees Retirement Association Of Colorado holds 5,791 shares or 0% of its portfolio. Royal Bank Of Canada has invested 0% of its portfolio in Olympic Steel, Inc. (NASDAQ:ZEUS). Tci Wealth Advsrs accumulated 0% or 216 shares. Ancora Advsrs, a Us-based fund reported 87,801 shares. Menta Ltd Liability Corp has invested 0.07% of its portfolio in Olympic Steel, Inc. (NASDAQ:ZEUS). Prudential, a New Jersey-based fund reported 87,638 shares. Eam owns 71,527 shares or 0.29% of their US portfolio. The New York-based Qs Investors Limited Liability Company has invested 0% in Olympic Steel, Inc. (NASDAQ:ZEUS). Moreover, Cornerstone Ltd Liability has 0.01% invested in Olympic Steel, Inc. (NASDAQ:ZEUS) for 67,476 shares. Ameriprise holds 0% of its portfolio in Olympic Steel, Inc. (NASDAQ:ZEUS) for 148,462 shares. The Texas-based Bridgeway Management has invested 0.09% in Olympic Steel, Inc. (NASDAQ:ZEUS).

Olympic Steel, Inc. is a metals service center. The company has a market cap of $224.35 million. The Firm provides metals processing and distribution services for a range of customers. It currently has negative earnings. The Firm operates through three divisions: carbon flat products, specialty metals flat products, and tubular and pipe products.

ZEUS Company Profile

Olympic Steel, Inc., incorporated on April 25, 1978, is a metals service center. The Firm provides metals processing and distribution services for a range of customers. The Firm operates through three divisions: carbon flat products, specialty metals flat products, and tubular and pipe products. The Firm also performs toll processing of customer-owned metals. It sells certain products internationally, primarily in Canada, Puerto Rico and Mexico. The Firm maintains an inventory of carbon, stainless and aluminum coil, plate and sheet products, and tubular and pipe products. Coil is in the form of a continuous sheet, typically 36 to 96 inches wide, between 0.015 and 0.625 inches thick, and rolled into 10 to 30 ton coils.

More notable recent Olympic Steel, Inc. (NASDAQ:ZEUS) news were published by: Crainscleveland.com which released: “Olympic Steel Inc. names Andrew Greiff as EVP, chief operating officer” on August 24, 2016, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” published on January 30, 2011, Businesswire.com published: “Olympic Steel Promotes Andrew Greiff to Executive Vice President and Chief …” on August 23, 2016. More interesting news about Olympic Steel, Inc. (NASDAQ:ZEUS) were released by: Nasdaq.com and their article: “Olympic Steel, Inc. (ZEUS) Ex-Dividend Date Scheduled for August 30, 2016” published on August 29, 2016 as well as Businesswire.com‘s news article titled: “Olympic Steel Names Steve Reyes Vice President, Central Region” with publication date: June 27, 2016.

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