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

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

Olympic Steel has increased 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% indicating that its dividend is sufficiently covered by earnings.

Olympic Steel Stock Performance

Shares of NASDAQ:ZEUS traded down $1.31 during mid-day trading on Friday, reaching $34.57. The company had a trading volume of 234,110 shares, compared to its average volume of 97,785. The company has a current ratio of 3.77, a quick ratio of 1.43 and a debt-to-equity ratio of 0.37. The firm has a market cap of $384.76 million, a price-to-earnings ratio of 15.16 and a beta of 1.47. The company’s 50-day moving average price is $38.31 and its 200-day moving average price is $45.95. Olympic Steel has a one year low of $32.23 and a one year high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. The company had revenue of $526.25 million for the quarter. Olympic Steel had a net margin of 1.32% and a return on equity of 3.80%. During the same period last year, the firm posted $1.24 EPS.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a 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.