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 paid a dividend of 0.15 per share by the basic materials company on Monday, June 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, June 3rd.
Olympic Steel has raised its dividend by an average of 84.2% per year over the last three years and has raised 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. Research 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 Stock Performance
NASDAQ:ZEUS traded down $6.13 during trading hours on Friday, reaching $57.55. 146,077 shares of the company’s stock were exchanged, compared to its average volume of 53,420. Olympic Steel has a 1-year low of $40.85 and a 1-year high of $73.49. The company has a quick ratio of 1.20, a current ratio of 3.35 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $640.53 million, a price-to-earnings ratio of 15.35 and a beta of 1.67. The company has a 50-day moving average of $67.44 and a 200 day moving average of $62.85.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered Olympic Steel from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 2nd.
Get Our Latest Report on Olympic Steel
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.
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