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ZEUS $70.18

ZEUS target price
70.18
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Olympic Steel, Inc.
Type
Public company
Traded as NASDAQ: ZEUS
S&P 600 Component
Industry Steel Processing
Fabrication
Founded 1954; 63 years ago (1954)
Founder Sol and Morris Siegal
and Sam Siegal
Headquarters Cleveland, Ohio
Key people
Michael Siegal (CEO, Chairman)
David Wolfort (President)
Rick Marabito (CFO)
Products Flat-rolled steel
Fabricated Parts
Revenue Decrease $670 million (2016)
Operating income
Increase -$4 million (2016)
Net income
Increase -$1 million (2016)
Total assets Increase $556 million (2016)
Total equity Decrease $253 million (2016)
Number of employees
1,660 (2016)
Website www.olysteel.com

Olympic Steel, Inc. is a steel processor based in Cleveland, Ohio.

The company engages in the processing and distribution of processed carbon, coated and stainless flat-rolled sheet, and coil and plate steel products primarily in the United States. The company owns 17 facilities throughout the eastern-half of the United States and 1 in Mexico.

Its services include cutting-to-length, slitting, and shearing. It also offers value-added processes such as blanking, tempering, plate burning, precision machining, welding, and fabricating and painting to process steel to specified lengths, widths, and shapes. It also owns two subsidiaries, Chicago Tube and Iron and Integrity Stainless.

Olympic Steel was founded in 1954 by brothers Sol and Morris Siegal and Sam Sigel. Initially, it was a metals trading company and owned no facilities.

In 1956, it opened an 11,000-square-foot (1,000 m) facility in Bedford Heights, Ohio. By 1966, the facility had grown to 35,000 square feet (3,300 m). The company offered multiple flat-rolled steel products, including coil and plate products.

In 1975, Michael Siegal, son of Sol Siegal, joined the company. The next year, the facility was again expanded to 56,000 square feet (5,200 m). By 1985, the company had founded a Southern sales office in Georgia and another office in Pennsylvania. Michael Siegal bought out his father's share of the company in 1984 and David Wolfort joined the company as General Manager.

In 1987, Olympic acquired Viking Steel Company, based in Elk Grove Village, Illinois.

In 1988, the Philadelphia Division was formed by moving the Eastern sales office to a full warehouse facility in Lester, Pennsylvania.

In 1989, the Southern Division moved to Greenville, South Carolina, consolidating several sales offices in the region and Olympic Steel Trading was formed to sell steel in Puerto Rico and Mexico.

In the early 1990s, Olympic expanded further by purchasing Eastern Steel in Milford, Connecticut, Juster Steel of Minneapolis, Minnesota, and Lafayette Steel & Processing in Detroit, Michigan.

In 1994, the company offered 4,000,000 shares in an IPO. In 1996, it offered 2,500,000 more shares.

In 1997, the company acquired Southeastern Metal Processing for $11.5 million in cash and the assumption of $5.8 million in liabilities.

In 1997, the company broke-ground on its second temper mill at a new facility in Bettendorf, Iowa.

In 1998, Olympic entered the machining business by purchasing the assets of JNT Machining and opening a new facility in Chambersburg, Pennsylvania.

In 2006, it purchased the Siler City, North Carolina-based Tinsley Group.

In 2008, it announced new fabrication facilities to be built in Dover, Ohio and Sumter, South Carolina.

In 2013, the founder, Sol Siegal, died.

In 2017, the company shut its plant in Chatham County, North Carolina, which resulted in 51 layoffs.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-11-02 Future report Set alerts
Q2 2022 2022-08-04 3.26 3.26
Q1 2022 2022-05-05 0.00 0.00
Q4 2021 2022-02-24 2.16 2.16
Q3 2021 2021-11-04 3.87 3.87
Q2 2021 2021-08-05 2.58 2.58
Q1 2021 2021-05-07 1.91 1.91
Q4 2020 2021-02-25 0.16 0.16
Q3 2020 2020-11-05 -0.14 0.00
Q2 2020 2020-08-06 -0.35 -0.56

Ratings

2016-06-10 Reiterated Rating Jefferies Group Hold $20.00 to $25.00
2016-05-02 Boost Price Target Jefferies Group Hold $16.00 to $20.00
2016-03-21 Downgrade Jefferies Group Buy to Hold $16.00
2016-01-13 Reiterated Rating Jefferies Group Buy $16.00 to $12.00
2015-09-16 Reiterated Rating Jefferies Group Buy $16.00
2015-08-10 Reiterated Rating Jefferies Group Hold $17.00 to $14.50
2015-07-22 Lower Price Target KeyBanc Overweight $19.00
2015-07-22 Lower Price Target KeyCorp Overweight $19.00
2015-06-15 Reiterated Rating Jefferies Group Hold $15.00 to $17.00
2015-05-05 Upgrade Macquarie Neutral to Outperform $14.00 to $23.00
2015-05-04 Upgrade Credit Suisse Underperform to Outperform $12.00 to $17.00
2015-05-04 Upgrade Credit Suisse Group AG Underperform to Outperform $12.00 to $17.00
2015-03-16 Lower Price Target Jefferies Group Hold $16.50 to $15.00
2015-02-27 Lower Price Target Jefferies Group Hold $18.00 to $16.50
2015-02-24 Downgrade Credit Suisse Neutral to Underperform $19.00 to $12.00
2014-12-17 Reiterated Rating Jefferies Group Hold $22.50 to $18.00
2014-11-07 Reiterated Rating Credit Suisse Neutral $23.00 to $19.00
2014-08-08 Lower Price Target Jefferies Group $26.50 to $25.00
2014-08-08 Reiterated Rating Macquarie Neutral $27.00 to $24.00
2013-11-01 Lower Price Target Jefferies Group Hold $29.00 to $26.50
2013-09-16 Boost Price Target Jefferies Group Hold $26.00 to $29.00
2010-08-09 Downgrade KeyBanc Capital Mkts Buy to Hold
2010-05-11 Upgrade KeyBanc Capital Mkts Hold to Buy $35
2009-04-30 Downgrade Next Generation Buy to Neutral
2008-10-10 Downgrade KeyBanc Capital Mkts Buy to Hold $65 to $36
2008-06-20 Reiterated KeyBanc Capital Mkts Buy $70 to $85
2008-06-02 Downgrade Davenport Buy to Neutral
2008-03-28 Reiterated Davenport Buy $42 to $48
2007-12-07 Downgrade Longbow Buy to Neutral
2016-06-10 Reiterated Rating Jefferies Group Hold $20.00 to $25.00
2016-05-02 Boost Price Target Jefferies Group Hold $16.00 to $20.00
2016-03-21 Downgrade Jefferies Group Buy to Hold $16.00
2016-01-13 Reiterated Rating Jefferies Group Buy $16.00 to $12.00
2015-09-16 Reiterated Rating Jefferies Group Buy $16.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
SIEGAL MICHAEL D Chairman of the Board and CEO 10.95%  (1202727) CLF / ZEUS /
WOLFORT DAVID A President and COO 3.74%  (410820) ZEUS /
McNeeley Donald R. Jr. 1.27%  (139507) ZEUS /
MARABITO RICHARD T Chief Financial Officer 0.28%  (30614) ZEUS /
Anton Arthur F 0.22%  (23778) SHW / ZEUS /
Rippey Michael G 0.13%  (13800) SXC / ZEUS /
Della Ratta Ralph M Jr 0.12%  (12795) TCPI / ZEUS /
MEATHE JAMES 0.11%  (12200) ZEUS /
MANSON RICHARD A See General Remarks 0.09%  (9697) ZEUS /
Greiff Andrew S EVP and COO 0.08%  (9021) ZEUS /
Potash Esther Chief Information Officer 0.07%  (7139) ZEUS /
Kempthorne Dirk A 0.01%  (1000) FMC / ZEUS /