Olympic Steel, Inc. $ZEUS Shares Purchased by LSV Asset Management

LSV Asset Management raised its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS) by 39.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,800 shares of the basic materials company’s stock after acquiring an additional 14,700 shares during the quarter. LSV Asset Management owned 0.46% of Olympic Steel worth $1,577,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ZEUS. State of Wyoming increased its holdings in shares of Olympic Steel by 25.8% in the 3rd quarter. State of Wyoming now owns 20,515 shares of the basic materials company’s stock valued at $625,000 after purchasing an additional 4,209 shares in the last quarter. AlphaQuest LLC increased its holdings in Olympic Steel by 101.8% in the third quarter. AlphaQuest LLC now owns 16,391 shares of the basic materials company’s stock valued at $499,000 after buying an additional 8,269 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Olympic Steel by 24.9% during the 3rd quarter. SummerHaven Investment Management LLC now owns 24,379 shares of the basic materials company’s stock valued at $742,000 after acquiring an additional 4,856 shares during the period. Strs Ohio purchased a new stake in shares of Olympic Steel during the 3rd quarter worth approximately $58,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Olympic Steel in the 3rd quarter worth approximately $215,000. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Olympic Steel Price Performance

ZEUS stock opened at $47.86 on Tuesday. The stock’s 50 day moving average price is $46.59 and its 200 day moving average price is $37.72. The firm has a market cap of $535.94 million, a P/E ratio of 40.91 and a beta of 1.75. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 3.12. Olympic Steel, Inc. has a 1 year low of $26.32 and a 1 year high of $52.65.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Olympic Steel from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Olympic Steel currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Insider Buying and Selling

In other Olympic Steel news, COO Andrew S. Greiff sold 4,500 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $40.42, for a total value of $181,890.00. Following the transaction, the chief operating officer directly owned 12,018 shares in the company, valued at approximately $485,767.56. This represents a 27.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.80% of the company’s stock.

About Olympic Steel

Olympic Steel, Inc is a leading metals service center headquartered in Cleveland, Ohio, specializing in the distribution of carbon, stainless, aluminum and alloy sheet, plate, bar, tubing, and piping products. The company offers a broad range of metals in various grades, sizes and dimensions, serving customers across a variety of industries. Olympic Steel operates as a one?stop source for metals procurement, providing both standard inventory offerings and custom?cut pieces to meet specific customer requirements.

Through its network of service centers in the United States and Mexico, Olympic Steel provides a suite of value?added processing services, including precision laser and plasma cutting, shearing, slitting, shearing, forming, plate burning, leveling and robotic welding.