Olympic Steel, Inc. (NASDAQ:ZEUS) Declares Dividend Increase – $0.16 Per Share

Olympic Steel, Inc. (NASDAQ:ZEUS) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Stockholders of record on Monday, March 3rd will be given a dividend of 0.16 per share by the basic materials company on Monday, March 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.75%. This is an increase from Olympic Steel’s previous quarterly dividend of $0.15.

Olympic Steel has raised its dividend payment by an average of 95.7% per year over the last three years.

Olympic Steel Stock Performance

ZEUS traded up $0.86 during midday trading on Thursday, reaching $36.67. The company’s stock had a trading volume of 120,510 shares, compared to its average volume of 69,430. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $34.42 and a 200 day simple moving average of $37.76. The stock has a market cap of $408.14 million, a P/E ratio of 16.08 and a beta of 1.52. Olympic Steel has a twelve month low of $30.29 and a twelve month high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.05. Olympic Steel had a net margin of 1.32% and a return on equity of 3.79%. Research analysts expect that Olympic Steel will post 1.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZEUS. StockNews.com lowered Olympic Steel from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. KeyCorp raised Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $42.00 price target on the stock in a research note on Wednesday, January 22nd.

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.