Olympic Steel, Inc. (NASDAQ:ZEUS) Announces Quarterly Dividend of $0.09

Olympic Steel, Inc. (NASDAQ:ZEUSGet Rating) declared a quarterly dividend on Thursday, August 4th, Zacks reports. Stockholders of record on Thursday, September 1st will be paid a dividend of 0.09 per share by the basic materials company on Thursday, September 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, August 31st.

Olympic Steel Price Performance

Shares of ZEUS traded up $0.20 during mid-day trading on Friday, hitting $30.73. The company’s stock had a trading volume of 77,210 shares, compared to its average volume of 51,901. The firm has a 50-day moving average price of $28.74 and a 200 day moving average price of $30.24. The stock has a market capitalization of $342.02 million, a price-to-earnings ratio of 2.60 and a beta of 1.71. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.70 and a quick ratio of 1.54. Olympic Steel has a fifty-two week low of $19.92 and a fifty-two week high of $43.18.

Olympic Steel (NASDAQ:ZEUSGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The basic materials company reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.84. The company had revenue of $696.33 million for the quarter, compared to analysts’ expectations of $548.40 million. Olympic Steel had a net margin of 5.36% and a return on equity of 36.01%. During the same quarter in the previous year, the company posted $1.97 EPS. On average, research analysts predict that Olympic Steel will post 7.77 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Friday.

Insider Transactions at Olympic Steel

In other news, insider David A. Wolfort sold 10,000 shares of Olympic Steel stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $36.20, for a total value of $362,000.00. Following the transaction, the insider now directly owns 170,064 shares of the company’s stock, valued at $6,156,316.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider David A. Wolfort sold 10,000 shares of Olympic Steel stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $36.20, for a total value of $362,000.00. Following the transaction, the insider now directly owns 170,064 shares of the company’s stock, valued at $6,156,316.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Wolfort sold 2,700 shares of Olympic Steel stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $31.14, for a total transaction of $84,078.00. Following the completion of the transaction, the insider now directly owns 238,686 shares in the company, valued at $7,432,682.04. The disclosure for this sale can be found here. Insiders have sold a total of 63,049 shares of company stock valued at $2,165,001 over the last ninety days. Corporate insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP grew its position in Olympic Steel by 42.1% during the first quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 337 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Olympic Steel during the first quarter valued at approximately $194,000. Atria Wealth Solutions Inc. purchased a new position in Olympic Steel during the first quarter valued at approximately $227,000. Citigroup Inc. grew its position in Olympic Steel by 12.2% during the first quarter. Citigroup Inc. now owns 7,796 shares of the basic materials company’s stock valued at $300,000 after purchasing an additional 847 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Olympic Steel during the first quarter valued at approximately $309,000. 74.62% of the stock is owned by hedge funds and other institutional investors.

About Olympic Steel

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Olympic Steel, Inc processes, distributes, and storage 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 Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.

Further Reading

Dividend History for Olympic Steel (NASDAQ:ZEUS)

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