Olympic Steel, Inc. (ZEUS) Stake Increased by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. lifted its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS) by 188.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,196 shares of the basic materials company’s stock after buying an additional 25,596 shares during the period. Schwab Charles Investment Management Inc. owned about 0.36% of Olympic Steel worth $764,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Sei Investments Co. boosted its position in shares of Olympic Steel by 2,061.5% in the second quarter. Sei Investments Co. now owns 16,968 shares of the basic materials company’s stock worth $331,000 after buying an additional 16,183 shares during the period. Essex Investment Management Co. LLC boosted its position in shares of Olympic Steel by 184.2% in the second quarter. Essex Investment Management Co. LLC now owns 68,564 shares of the basic materials company’s stock worth $1,336,000 after buying an additional 44,437 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of Olympic Steel by 23.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 65,560 shares of the basic materials company’s stock worth $1,277,000 after buying an additional 12,320 shares during the period. Capstone Asset Management Co. boosted its position in shares of Olympic Steel by 5.4% in the second quarter. Capstone Asset Management Co. now owns 11,526 shares of the basic materials company’s stock worth $225,000 after buying an additional 590 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Olympic Steel by 36.6% in the first quarter. Goldman Sachs Group Inc. now owns 42,510 shares of the basic materials company’s stock worth $789,000 after buying an additional 11,397 shares during the period. 68.10% of the stock is owned by institutional investors and hedge funds.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.06. Olympic Steel had a net margin of 1.35% and a return on equity of 7.29%. The business had revenue of $356.20 million during the quarter, compared to analysts’ expectations of $365.00 million. During the same quarter in the prior year, the company earned $0.32 EPS.

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In other news, CFO Richard T. Marabito bought 2,000 shares of the stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $17.42 per share, for a total transaction of $34,840.00. Following the acquisition, the chief financial officer now owns 30,614 shares in the company, valued at $533,295.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Andrew S. Greiff bought 3,500 shares of the stock in a transaction on Tuesday, September 5th. The shares were purchased at an average price of $17.75 per share, with a total value of $62,125.00. Following the acquisition, the chief operating officer now owns 9,021 shares in the company, valued at approximately $160,122.75. The disclosure for this purchase can be found here. 18.29% of the stock is currently owned by corporate insiders.

Several analysts have recently commented on the company. Zacks Investment Research cut Olympic Steel from a “hold” rating to a “strong sell” rating in a research report on Friday, October 20th. KeyCorp reissued a “hold” rating on shares of Olympic Steel in a research report on Sunday, October 22nd. Finally, Jefferies Group LLC reissued a “hold” rating on shares of Olympic Steel in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.75.

Olympic Steel Profile

Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.

Institutional Ownership by Quarter for Olympic Steel (NASDAQ:ZEUS)

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