Olympic Steel, Inc. (NASDAQ:ZEUS) to Issue Quarterly Dividend of $0.16

Olympic Steel, Inc. (NASDAQ:ZEUS) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Monday, March 3rd will be paid a dividend of 0.16 per share by the basic materials company on Monday, March 17th. This represents a $0.64 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Olympic Steel’s previous quarterly dividend of $0.15.

Olympic Steel has raised its dividend payment by an average of 95.7% per year over the last three years.

Olympic Steel Stock Up 2.4 %

Shares of ZEUS traded up $0.86 during trading hours on Thursday, reaching $36.67. The company’s stock had a trading volume of 120,510 shares, compared to its average volume of 69,430. The company has a 50 day moving average of $34.42 and a two-hundred day moving average of $37.76. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The firm has a market cap of $408.14 million, a price-to-earnings ratio of 16.08 and a beta of 1.52. Olympic Steel has a 1-year low of $30.29 and a 1-year high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. Olympic Steel had a net margin of 1.32% and a return on equity of 3.79%. As a group, research analysts predict that Olympic Steel will post 1.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ZEUS has been the subject of a number of research reports. StockNews.com cut Olympic Steel from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. KeyCorp upgraded Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a report on Wednesday, January 22nd.

About Olympic Steel

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.