Olympic Steel, Inc. (ZEUS) to Issue Quarterly Dividend of $0.15 on December 16th

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

Olympic Steel has raised 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 Trading Down 3.7 %

NASDAQ:ZEUS traded down $1.31 during trading hours on Friday, hitting $34.57. 234,110 shares of the company were exchanged, compared to its average volume of 97,785. The stock has a market capitalization of $384.76 million, a price-to-earnings ratio of 15.16 and a beta of 1.47. The company has a current ratio of 3.77, a quick ratio of 1.43 and a debt-to-equity ratio of 0.37. Olympic Steel has a one year low of $32.23 and a one year high of $73.49. The company has a fifty day simple moving average of $38.31 and a 200 day simple moving average of $45.95.

Olympic Steel (NASDAQ:ZEUS) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. The business had revenue of $526.25 million during the quarter. Olympic Steel had a return on equity of 3.80% and a net margin of 1.32%. During the same period in the prior year, the business earned $1.24 earnings per share.

Analysts Set New Price Targets

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

Olympic Steel Company Profile

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.