Olympic Steel, Inc. (ZEUS) to Issue Quarterly Dividend of $0.02 on December 15th
Olympic Steel, Inc. (NASDAQ:ZEUS) announced a quarterly dividend on Tuesday, November 7th, Zacks reports. Stockholders of record on Friday, December 1st will be given a dividend of 0.02 per share by the basic materials company on Friday, December 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Thursday, November 30th.
Olympic Steel (ZEUS) traded down $0.46 on Friday, hitting $19.47. The stock had a trading volume of 85,555 shares, compared to its average volume of 113,522. Olympic Steel has a 12 month low of $15.83 and a 12 month high of $28.67. The company has a quick ratio of 1.54, a current ratio of 4.23 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $218.66, a P/E ratio of 20.13, a P/E/G ratio of 2.15 and a beta of 1.77.
Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Wednesday, November 8th. The basic materials company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. Olympic Steel had a return on equity of 4.32% and a net margin of 0.99%. The company had revenue of $331.44 million during the quarter, compared to the consensus estimate of $323.05 million. During the same quarter last year, the firm earned ($0.16) earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. sell-side analysts expect that Olympic Steel will post 1.24 EPS for the current year.
A number of equities research analysts have recently weighed in on ZEUS shares. Zacks Investment Research raised Olympic Steel from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 8th. KeyCorp reissued a “hold” rating on shares of Olympic Steel in a report on Tuesday, September 19th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $23.00.
In related news, COO Andrew S. Greiff purchased 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was acquired at an average price of $17.75 per share, with a total value of $62,125.00. Following the completion of the purchase, the chief operating officer now directly owns 9,021 shares in the company, valued at $160,122.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.29% of the stock is owned by insiders.
A hedge fund recently raised its stake in Olympic Steel stock. The Manufacturers Life Insurance Company boosted its stake in Olympic Steel, Inc. (NASDAQ:ZEUS) by 12.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,349 shares of the basic materials company’s stock after purchasing an additional 934 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Olympic Steel worth $163,000 at the end of the most recent reporting period. 68.82% of the stock is owned by hedge funds and other institutional investors.
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About Olympic Steel
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.
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