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

CSM Advisors LLC bought a new stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) during the 2nd quarter, HoldingsChannel reports. The firm bought 182,945 shares of the basic materials company’s stock, valued at approximately $5,964,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. boosted its stake in shares of Olympic Steel by 18,931.2% in the first quarter. Federated Hermes Inc. now owns 17,699 shares of the basic materials company’s stock valued at $558,000 after purchasing an additional 17,606 shares during the period. American Century Companies Inc. lifted its holdings in Olympic Steel by 5.8% in the 1st quarter. American Century Companies Inc. now owns 349,157 shares of the basic materials company’s stock worth $11,005,000 after buying an additional 19,044 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Olympic Steel by 32.0% in the 1st quarter. Russell Investments Group Ltd. now owns 78,577 shares of the basic materials company’s stock valued at $2,477,000 after buying an additional 19,039 shares during the last quarter. New Age Alpha Advisors LLC grew its stake in shares of Olympic Steel by 33.6% during the first quarter. New Age Alpha Advisors LLC now owns 2,406 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 605 shares in the last quarter. Finally, CWM LLC increased its position in shares of Olympic Steel by 170.5% during 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. 87.07% of the stock is owned by institutional investors and hedge funds.

Olympic Steel Stock Performance

ZEUS stock opened at $34.35 on Monday. The firm has a market cap of $384.65 million, a P/E ratio of 29.36 and a beta of 1.80. The stock’s 50 day simple moving average is $31.54 and its 200 day simple moving average is $32.00. The company has a current ratio of 3.07, a quick ratio of 1.18 and a debt-to-equity ratio of 0.40. Olympic Steel, Inc. has a 12-month low of $26.32 and a 12-month high of $43.60.

Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Tuesday, October 28th. The basic materials company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). Olympic Steel had a net margin of 0.73% and a return on equity of 2.12%. The company had revenue of $490.66 million for the quarter, compared to the consensus estimate of $476.20 million. As a group, equities research analysts predict that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.16 per share. The ex-dividend date is Monday, December 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.9%. Olympic Steel’s payout ratio is currently 54.70%.

Wall Street Analysts Forecast Growth

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

Olympic Steel 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.