Olympic Steel, Inc. (NASDAQ:ZEUS – Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Monday, June 3rd will be given 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 of this dividend is Monday, June 3rd.
Olympic Steel has increased its dividend by an average of 84.2% per year 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 %
ZEUS traded down $6.13 during trading on Friday, hitting $57.55. 146,077 shares of the company’s stock were exchanged, compared to its average volume of 53,420. The stock has a 50 day moving average price of $67.44 and a 200 day moving average price of $62.85. The company has a current ratio of 3.35, a quick ratio of 1.20 and a debt-to-equity ratio of 0.34. Olympic Steel has a 1 year low of $40.85 and a 1 year high of $73.49. The firm has a market cap of $640.53 million, a P/E ratio of 15.35 and a beta of 1.67.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered shares of Olympic Steel from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 2nd.
Check Out Our Latest Report on Olympic Steel
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.
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