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

Olympic Steel, Inc. (NASDAQ:ZEUS) announced a quarterly dividend on Tuesday, February 13th, Wall Street Journal reports. Shareholders of record on Thursday, March 1st will be paid a dividend of 0.02 per share by the basic materials company on Thursday, March 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Wednesday, February 28th.

Shares of Olympic Steel (NASDAQ:ZEUS) traded up $0.77 during trading hours on Tuesday, hitting $23.35. The company’s stock had a trading volume of 105,704 shares, compared to its average volume of 114,957. Olympic Steel has a 12 month low of $15.83 and a 12 month high of $27.16. The firm has a market capitalization of $239.51, a PE ratio of 20.34, a P/E/G ratio of 1.50 and a beta of 1.90. The company has a quick ratio of 1.54, a current ratio of 4.23 and a debt-to-equity ratio of 0.82.

An institutional investor recently raised its position in Olympic Steel stock. The Manufacturers Life Insurance Company lifted its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS) by 12.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,349 shares of the basic materials company’s stock after purchasing an additional 934 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Olympic Steel worth $163,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 67.81% of the company’s stock.

A number of analysts have weighed in on the company. BidaskClub cut Olympic Steel from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Zacks Investment Research raised Olympic Steel from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Olympic Steel in a research report on Friday, November 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.50.

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Olympic Steel Company Profile

Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.

Dividend History for Olympic Steel (NASDAQ:ZEUS)

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