All I see is a few posts on the Yahoo forum (probably bogus cheerleaders) some as old as Feb 2011 but none have any facts.
I also found a blog with the results of a classroom assignment where the students played the part of management teams for ZEUS & another company which was proposing to buy them out.
I know it was just a fantasy but hey; the kids sold the company for $40 after a decent analysis!
I don't think anything is in the works & won't be adding to what I have.
(Changed from SB to Hold since I was just cheerleading anyway...)
I think like many more economically sensitive (higher beta) stocks its just going through an unloved period. Higher beta stocks are trading in many cases at extremely attractive prices relative to defensive assets. It seems like the market is pricing in a 2013 recession to these types of stocks. I like that, as it limits further downside.
In addition there are some internal catalysts that could yet yield positive surprises e.g. better inventory mgmt, margin improvement, lower capex expediture (no reason this extra capital couldnt be used for buyback). I like the fact the mgmt are buyers at these levels, always a good sign.
As for what price it could get to. Well $30 definitely seems a reasonable level. I can quite easily get $35+ but the market isnt willing to step out and expand multiples. You you can hear this complaint every day about why Apple isnt trading at higher multiples. So I dont think ZEUS will be treated any differently.
In my view a stock with a P/B below 1 and a positive ROE, where you can rule out fraud, is an easy investment that simply requires some patience.
It's nice to know someone cares (about Olympic Steel & long term investing!)
I like patient people & I love/am frustrated by; investments which require patience.
I was beginning to give up hope on the Yahoo Finance forums as GMCR & SPLS's boards are so short sighted that it's difficult to wade through the bull to get to the meat (a mixed metaphor with an additional not so cleverly hidden hint as to my sentiment regarding ZEUS..)