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

Olympic Steel, Inc. (NASDAQ:ZEUS) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Investors 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 yield of 1.75%. This is a positive change from Olympic Steel’s previous quarterly dividend of $0.15.

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

Olympic Steel Stock Up 2.4 %

ZEUS stock opened at $36.67 on Friday. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The firm’s 50-day simple moving average is $34.35 and its 200 day simple moving average is $37.75. The stock has a market cap of $408.14 million, a PE ratio of 16.08 and a beta of 1.52. Olympic Steel has a fifty-two week low of $30.29 and a fifty-two week high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last issued 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 return on equity of 3.79% and a net margin of 1.32%. As a group, sell-side analysts predict that Olympic Steel will post 1.63 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ZEUS shares. KeyCorp upgraded shares of Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $42.00 price objective for the company in a report on Wednesday, January 22nd. StockNews.com cut Olympic Steel from a “buy” rating to a “hold” rating in a research note 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.