Olympic Steel, Inc. to Issue Quarterly Dividend of $0.13 (NASDAQ:ZEUS)

Olympic Steel, Inc. (NASDAQ:ZEUS - Get Free Report) announced a quarterly dividend on Thursday, August 3rd, NASDAQ reports. Stockholders of record on Friday, September 1st will be given a dividend of 0.125 per share by the basic materials company on Friday, September 15th. This represents a $0.50 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, August 31st.

ZEUS traded up $3.05 during trading on Friday, hitting $53.75. The stock had a trading volume of 128,192 shares, compared to its average volume of 113,326. The firm has a market capitalization of $598.24 million, a P/E ratio of 9.88 and a beta of 1.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.39 and a current ratio of 3.56. Olympic Steel has a twelve month low of $22.62 and a twelve month high of $58.84. The company's 50-day moving average price is $48.98 and its 200 day moving average price is $48.17.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its quarterly earnings results on Thursday, May 4th. The basic materials company reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.27. The business had revenue of $573.08 million for the quarter, compared to analyst estimates of $596.60 million. Olympic Steel had a net margin of 2.61% and a return on equity of 13.10%. On average, equities research analysts forecast that Olympic Steel will post 3.63 EPS for the current fiscal year.

Separately, StockNews.com raised Olympic Steel from a "hold" rating to a "buy" rating in a research note on Friday, July 7th.

Institutional investors have recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in Olympic Steel by 36.2% in the first quarter. Invesco Ltd. now owns 957,825 shares of the basic materials company's stock valued at $36,838,000 after purchasing an additional 254,383 shares during the last quarter. State Street Corp boosted its holdings in shares of Olympic Steel by 49.2% during the first quarter. State Street Corp now owns 633,865 shares of the basic materials company's stock worth $33,094,000 after purchasing an additional 209,031 shares during the last quarter. BlackRock Inc. grew its holdings in Olympic Steel by 10.8% in the 1st quarter. BlackRock Inc. now owns 1,918,096 shares of the basic materials company's stock valued at $73,769,000 after buying an additional 186,607 shares during the period. JPMorgan Chase & Co. increased its position in Olympic Steel by 165.4% during the second quarter. JPMorgan Chase & Co. now owns 203,051 shares of the basic materials company's stock worth $5,228,000 after purchasing an additional 126,545 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Olympic Steel in the 4th quarter worth $3,738,000. 82.19% of the stock is currently owned by hedge funds and other institutional investors.

Olympic Steel, Inc processes, distributes, and stores metal products in the United States and internationally. 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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