Olympic Steel, Inc. (NASDAQ:ZEUS) declared a quarterly dividend on Monday, February 11th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Thursday, February 28th.
Olympic Steel has a payout ratio of 2.5% meaning its dividend is sufficiently covered by earnings. Equities research 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%.
NASDAQ ZEUS traded up $0.03 during trading hours on Monday, reaching $19.25. The company had a trading volume of 48,976 shares, compared to its average volume of 62,135. Olympic Steel has a 1-year low of $13.72 and a 1-year high of $25.84. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.95 and a quick ratio of 1.50. The stock has a market capitalization of $211.58 million, a P/E ratio of 16.30 and a beta of 2.09.
Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Thursday, November 8th. The basic materials company reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.36. Olympic Steel had a net margin of 2.46% and a return on equity of 13.22%. The company had revenue of $457.00 million for the quarter, compared to analysts’ expectations of $452.60 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. Olympic Steel’s revenue for the quarter was up 37.9% compared to the same quarter last year. As a group, analysts anticipate that Olympic Steel will post 3.55 EPS for the current year.
In other news, CFO Richard T. Marabito bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The shares were purchased at an average cost of $17.15 per share, for a total transaction of $51,450.00. Following the completion of the purchase, the chief financial officer now owns 33,614 shares of the company’s stock, valued at $576,480.10. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Richard A. Manson bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $42,500.00. Following the completion of the purchase, 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 corporate insiders.
A number of brokerages have issued reports on ZEUS. ValuEngine upgraded shares of Olympic Steel from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Zacks Investment Research upgraded shares of Olympic Steel from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a research note on Saturday, November 17th.
ILLEGAL ACTIVITY WARNING: “Olympic Steel, Inc. (ZEUS) to Issue Quarterly Dividend of $0.02” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2019/02/11/olympic-steel-inc-zeus-to-issue-quarterly-dividend-of-0-02.html.
Olympic Steel Company Profile
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.
Featured Story: How to Invest in an Index Fund
Receive News & Ratings for Olympic Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olympic Steel and related companies with MarketBeat.com's FREE daily email newsletter.