Olympic Steel, Inc. (NASDAQ:ZEUS) Plans 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 paid a dividend of 0.16 per share by the basic materials company on Monday, March 17th. This represents a $0.64 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, March 3rd. 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 Trading Up 3.3 %

Olympic Steel stock opened at $37.88 on Friday. The stock has a 50-day moving average price of $34.31 and a 200 day moving average price of $37.72. The company has a market capitalization of $421.72 million, a price-to-earnings ratio of 19.23 and a beta of 1.52. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. Olympic Steel has a 52 week low of $30.29 and a 52 week high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The company had revenue of $418.78 million during the quarter, compared to the consensus estimate of $441.60 million. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. Sell-side analysts anticipate that Olympic Steel will post 2.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ZEUS shares. StockNews.com raised shares of Olympic Steel from a “hold” rating to a “buy” rating in a research note on Friday. KeyCorp raised Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $42.00 target price for the company 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.