Olympic Steel, Inc. to Issue Quarterly Dividend of $0.15 (NASDAQ:ZEUS)

Olympic Steel, Inc. (NASDAQ:ZEUS) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Monday, June 3rd will be paid a dividend of 0.15 per share by the basic materials company on Monday, June 17th. This represents a $0.60 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Monday, June 3rd.

Olympic Steel has raised its dividend payment by an average of 84.2% annually over the last three years and has increased its dividend every year for the last 3 years. Olympic Steel has a payout ratio of 15.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Olympic Steel to earn $4.11 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 14.6%.

Olympic Steel Trading Down 9.6 %

NASDAQ ZEUS traded down $6.13 during trading on Friday, reaching $57.55. 146,077 shares of the stock traded hands, compared to its average volume of 53,420. Olympic Steel has a fifty-two week low of $40.85 and a fifty-two week high of $73.49. The company has a quick ratio of 1.20, a current ratio of 3.35 and a debt-to-equity ratio of 0.34. The firm has a market cap of $640.53 million, a price-to-earnings ratio of 15.35 and a beta of 1.67. The stock’s 50-day moving average price is $67.44 and its 200 day moving average price is $62.85.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.12. The company had revenue of $489.41 million during the quarter, compared to analyst estimates of $490.10 million. Olympic Steel had a net margin of 2.05% and a return on equity of 6.43%. Analysts predict that Olympic Steel will post 3.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Olympic Steel from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 2nd.

About Olympic Steel

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.