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

LSV Asset Management boosted its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 39.6% in the 3rd quarter, according to its most recent filing 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 period. LSV Asset Management’s holdings in Olympic Steel were worth $1,577,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. CSM Advisors LLC acquired a new position in Olympic Steel in the second quarter valued at $5,964,000. JPMorgan Chase & Co. increased its stake in shares of Olympic Steel by 94.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 154,973 shares of the basic materials company’s stock valued at $5,051,000 after acquiring an additional 75,296 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Olympic Steel by 47.4% during the 2nd quarter. AQR Capital Management LLC now owns 212,365 shares of the basic materials company’s stock worth $6,921,000 after acquiring an additional 68,316 shares during the period. Y Intercept Hong Kong Ltd boosted its position in shares of Olympic Steel by 271.5% in the second quarter. Y Intercept Hong Kong Ltd now owns 53,480 shares of the basic materials company’s stock worth $1,743,000 after acquiring an additional 39,083 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Olympic Steel by 96.2% in the second quarter. Panagora Asset Management Inc. now owns 48,522 shares of the basic materials company’s stock worth $1,581,000 after acquiring an additional 23,785 shares during the last quarter. Institutional investors and hedge funds own 87.07% of the company’s stock.

Insider Transactions at Olympic Steel

In other news, COO Andrew S. Greiff sold 4,500 shares of the firm’s stock in a transaction on 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 owned 12,018 shares of the company’s stock, valued at approximately $485,767.56. This trade represents a 27.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 13.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Olympic Steel Stock Down 5.9%

Shares of NASDAQ:ZEUS opened at $47.86 on Tuesday. The stock has a 50-day simple moving average of $46.59 and a 200-day simple moving average of $37.72. The stock has a market capitalization of $535.94 million, a P/E ratio of 40.91 and a beta of 1.75. Olympic Steel, Inc. has a 1 year low of $26.32 and a 1 year high of $52.65. 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 Profile

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.