Olympic Steel, Inc. (ZEUS) Declares $0.02 Quarterly Dividend

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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.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Thursday, November 8th. The basic materials company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.36. Olympic Steel had a return on equity of 13.22% and a net margin of 2.46%. The firm had revenue of $457.00 million during the quarter, compared to the consensus estimate of $452.60 million. During the same period last year, the company earned $0.20 earnings per share. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. Analysts anticipate that Olympic Steel will post 3.55 earnings per share for the current fiscal year.

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.

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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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Dividend History for Olympic Steel (NASDAQ:ZEUS)

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