CSM Advisors LLC Makes New $5.96 Million Investment in Olympic Steel, Inc. $ZEUS

CSM Advisors LLC purchased a new stake in Olympic Steel, Inc. (NASDAQ:ZEUS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 182,945 shares of the basic materials company’s stock, valued at approximately $5,964,000. CSM Advisors LLC owned about 1.63% of Olympic Steel at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. New Age Alpha Advisors LLC lifted its stake in Olympic Steel by 33.6% in the 1st quarter. New Age Alpha Advisors LLC now owns 2,406 shares of the basic materials company’s stock valued at $76,000 after buying an additional 605 shares in the last quarter. CWM LLC raised its holdings in shares of Olympic Steel by 170.5% in the first quarter. CWM LLC now owns 2,462 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 1,552 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of Olympic Steel by 20.1% in the first quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company’s stock valued at $156,000 after acquiring an additional 830 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Olympic Steel during the first quarter valued at $179,000. Finally, Corient IA LLC purchased a new stake in Olympic Steel during the 1st quarter worth about $252,000. 87.07% of the stock is owned by hedge funds and other institutional investors.

Olympic Steel Price Performance

Shares of Olympic Steel stock opened at $34.35 on Monday. The business’s fifty day moving average price is $31.54 and its 200 day moving average price is $32.00. Olympic Steel, Inc. has a twelve month low of $26.32 and a twelve month high of $43.60. The company has a current ratio of 3.07, a quick ratio of 1.18 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $384.65 million, a P/E ratio of 29.36 and a beta of 1.80.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The firm had revenue of $490.66 million during the quarter, compared to analysts’ expectations of $476.20 million. Olympic Steel had a return on equity of 2.12% and a net margin of 0.73%. As a group, research analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.16 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.64 annualized dividend and a yield of 1.9%. Olympic Steel’s dividend payout ratio (DPR) is presently 54.70%.

Analysts Set New Price Targets

Several research firms have issued reports on ZEUS. Wall Street Zen cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. KeyCorp decreased their target price on shares of Olympic Steel from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Finally, Weiss Ratings downgraded Olympic Steel from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $38.00.

Olympic Steel Company Profile

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.