Olympic Steel, Inc. (NASDAQ:ZEUS) Announces $0.15 Quarterly Dividend

by · The Markets Daily

Olympic Steel, Inc. (NASDAQ:ZEUS – Get Free Report) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.15 per share by the basic materials company on Monday, December 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, December 2nd.

Olympic Steel has increased its dividend payment by an average of 84.2% per year over the last three years. Olympic Steel has a payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings.

Olympic Steel Stock Performance

NASDAQ:ZEUS traded down $1.31 during mid-day trading on Friday, hitting $34.57. The company’s stock had a trading volume of 234,110 shares, compared to its average volume of 97,785. The business’s fifty day moving average is $38.31 and its two-hundred day moving average is $45.95. The stock has a market cap of $384.76 million, a price-to-earnings ratio of 15.16 and a beta of 1.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.77 and a quick ratio of 1.43. Olympic Steel has a 1 year low of $32.23 and a 1 year high of $73.49.

Olympic Steel (NASDAQ:ZEUS – Get Free Report) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Olympic Steel had a return on equity of 3.80% and a net margin of 1.32%. The firm had revenue of $526.25 million for the quarter. During the same quarter in the previous year, the company earned $1.24 EPS.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a report on Friday, October 25th.

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Olympic Steel Company Profile

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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.

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