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

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.

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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.

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Dividend History for Olympic Steel (NASDAQ:ZEUS)

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