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 Featured MNV Articles:
| ZEUS Trading Below COO's Recent Buy PriceBy Metals Channel Staff, Thursday, June 16, 1:20 PM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on March 14, Olympic Steel Inc.'s COO, Andrew S. Greiff, invested $71,975.00 into 2,500 shares of ZEUS, for a cost per share of $28.79. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Thursday, bargain hunters could buy shares of Olympic Steel Inc. (NASDAQ:ZEUS) and achieve a cost basis 3.0% cheaper than Greiff, with shares changing hands as low as $27.93 per share. It should be noted that Greiff has collected $0.09/share in dividends since the time of their purchase, so they are currently down 2.7% on their purchase from a total return basis. Olympic Steel Inc. shares are currently trading down about 9.2% on the day. The chart below shows the one year performance of ZEUS shares, versus its 200 day moving average:
Looking at the chart above, ZEUS's low point in its 52 week range is $19.92 per share, with $43.18 as the 52 week high point — that compares with a last trade of $28.27. By comparison, below is a table showing the prices at which ZEUS insider buying was recorded over the last six months:
The current annualized dividend paid by Olympic Steel Inc. is $0.36/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 05/31/2022. Below is a long-term dividend history chart for ZEUS, which can be of good help in judging whether the most recent dividend with approx. 1.1% annualized yield is likely to continue.
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