Deutsche Bank AG Boosts Holdings in Olympic Steel, Inc. $ZEUS

Key Points

• Deutsche Bank AG significantly increased its stake in Olympic Steel, Inc. by 690.2% in the first quarter, reaching a total of 78,896 shares valued at approximately $2.49 million.
• Olympic Steel's stock reported a Q2 earnings miss with an EPS of $0.50, falling short of the $0.59 consensus estimate, alongside a revenue decline to $496.48 million.
• The company declared a quarterly dividend of $0.16 per share, providing an annualized yield of 2.0%, with the ex-dividend date set for September 2nd.

Deutsche Bank AG increased its stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 690.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,896 shares of the basic materials company's stock after purchasing an additional 68,912 shares during the quarter. Deutsche Bank AG owned 0.71% of Olympic Steel worth $2,487,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ZEUS. Charles Schwab Investment Management Inc. grew its stake in Olympic Steel by 66.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 104,529 shares of the basic materials company's stock valued at $3,295,000 after acquiring an additional 41,848 shares during the last quarter. Vanguard Group Inc. grew its stake in Olympic Steel by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 610,747 shares of the basic materials company's stock valued at $19,251,000 after acquiring an additional 2,503 shares during the last quarter. New Age Alpha Advisors LLC grew its stake 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 valued at $76,000 after acquiring an additional 605 shares during the last quarter. Federated Hermes Inc. grew its stake in Olympic Steel by 18,931.2% in the 1st quarter. Federated Hermes Inc. now owns 17,699 shares of the basic materials company's stock valued at $558,000 after acquiring an additional 17,606 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Olympic Steel in the 1st quarter valued at about $179,000. Hedge funds and other institutional investors own 87.07% of the company's stock.

Olympic Steel Trading Up 0.2%

Shares of ZEUS stock traded up $0.07 during trading hours on Monday, hitting $33.63. 58,699 shares of the company were exchanged, compared to its average volume of 63,321. The firm has a market cap of $376.66 million, a PE ratio of 27.57 and a beta of 1.72. Olympic Steel, Inc. has a 1 year low of $26.32 and a 1 year 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 firm has a fifty day moving average of $32.62 and a 200 day moving average of $32.23.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last posted its quarterly 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 net margin of 0.77% and a return on equity of 1.95%. The business had revenue of $496.48 million during the quarter, compared to analysts' expectations of $506.60 million. Analysts expect that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.16 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.64 annualized dividend and a yield of 1.9%. Olympic Steel's dividend payout ratio (DPR) is presently 52.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. KeyCorp decreased their price target 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. Wall Street Zen cut shares of Olympic Steel from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target 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.