Deutsche Bank AG Increases Stock Position in Olympic Steel, Inc. $ZEUS

Deutsche Bank AG raised its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 690.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,896 shares of the basic materials company’s stock after acquiring an additional 68,912 shares during the quarter. Deutsche Bank AG owned approximately 0.71% of Olympic Steel worth $2,487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of Olympic Steel by 178.7% in the first quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 586 shares during the last quarter. New Age Alpha Advisors LLC lifted its holdings 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 worth $76,000 after buying an additional 605 shares during the period. CWM LLC grew its position in shares of Olympic Steel by 170.5% in the 1st quarter. CWM LLC now owns 2,462 shares of the basic materials company’s stock worth $78,000 after buying an additional 1,552 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Olympic Steel during the first quarter valued at approximately $179,000. Finally, State of Wyoming raised its holdings in shares of Olympic Steel by 17.6% during the fourth quarter. State of Wyoming now owns 8,236 shares of the basic materials company’s stock valued at $270,000 after acquiring an additional 1,233 shares in the last quarter. 87.07% of the stock is owned by institutional investors.

Olympic Steel Stock Performance

Olympic Steel stock opened at $32.62 on Wednesday. Olympic Steel, Inc. has a twelve month low of $26.32 and a twelve month high of $43.60. The company has a quick ratio of 1.18, a current ratio of 3.07 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $365.34 million, a P/E ratio of 26.74 and a beta of 1.72. The stock’s 50 day moving average is $32.47 and its 200 day moving average is $32.30.

Olympic Steel (NASDAQ:ZEUS) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). Olympic Steel had a return on equity of 1.95% and a net margin of 0.77%.The company had revenue of $496.48 million during the quarter, compared to the consensus estimate of $506.60 million. On average, equities research analysts predict that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.

Olympic Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, September 2nd. Olympic Steel’s dividend payout ratio (DPR) is currently 52.46%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. KeyCorp cut 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 note on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Olympic Steel presently has a consensus rating of “Buy” 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.