Olympic Steel, Inc. (NASDAQ:ZEUS) announced a quarterly dividend on Monday, February 11th, Wall Street Journal reports. Stockholders of record on Friday, March 1st will be given a dividend of 0.02 per share by the basic materials company on Friday, March 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Thursday, February 28th.
Olympic Steel has a dividend payout ratio of 2.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Olympic Steel to earn $1.82 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 4.4%.
Shares of NASDAQ ZEUS traded up $0.03 during mid-day trading on Monday, hitting $19.25. 48,976 shares of the company were exchanged, compared to its average volume of 62,135. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.95 and a quick ratio of 1.50. Olympic Steel has a 1-year low of $13.72 and a 1-year high of $25.84. The company has a market cap of $211.58 million, a PE ratio of 16.30 and a beta of 2.09.
ZEUS has been the subject of several recent research reports. ValuEngine raised Olympic Steel from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Zacks Investment Research raised Olympic Steel from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Saturday, November 17th.
In other Olympic Steel news, CFO Richard T. Marabito acquired 3,000 shares of the business’s stock in a transaction on Thursday, December 6th. The stock was purchased at an average price of $17.15 per share, for a total transaction of $51,450.00. Following the completion of the transaction, the chief financial officer now owns 33,614 shares of the company’s stock, valued at approximately $576,480.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Richard A. Manson acquired 2,500 shares of the business’s stock in a transaction on Wednesday, November 28th. The stock was acquired at an average price of $17.00 per share, with a total value of $42,500.00. Following the transaction, the vice president now directly owns 9,897 shares of the company’s stock, valued at approximately $168,249. The disclosure for this purchase can be found here. 18.28% of the stock is owned by company insiders.
About Olympic Steel
Olympic Steel, Inc processes and distributes metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
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