Olympic Steel, Inc. (ZEUS) To Go Ex-Dividend on May 31st

Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) declared a quarterly dividend on Thursday, May 5th, Zacks reports. Stockholders of record on Wednesday, June 1st will be paid a dividend of 0.09 per share by the basic materials company on Wednesday, June 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, May 31st.

Shares of ZEUS stock opened at $36.34 on Friday. Olympic Steel has a 12 month low of $19.92 and a 12 month high of $43.18. The firm has a market cap of $404.39 million, a PE ratio of 3.07 and a beta of 1.61. The stock has a 50 day moving average of $35.67 and a 200-day moving average of $28.41. The company has a quick ratio of 1.54, a current ratio of 3.70 and a debt-to-equity ratio of 0.67.

Olympic Steel (NASDAQ:ZEUS – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The basic materials company reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.84. Olympic Steel had a return on equity of 36.01% and a net margin of 5.36%. The company had revenue of $696.33 million during the quarter, compared to analyst estimates of $548.40 million. During the same period in the previous year, the company earned $1.97 earnings per share. As a group, equities analysts predict that Olympic Steel will post 7.02 EPS for the current fiscal year.

In other Olympic Steel news, insider David A. Wolfort sold 10,059 shares of the stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $34.68, for a total transaction of $348,846.12. Following the completion of the transaction, the insider now directly owns 184,064 shares in the company, valued at $6,383,339.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew S. Greiff acquired 2,500 shares of the company’s stock in a transaction on Monday, March 14th. The shares were bought at an average price of $28.79 per share, with a total value of $71,975.00. The disclosure for this purchase can be found here. Insiders sold 122,350 shares of company stock valued at $3,898,705 over the last 90 days. 17.40% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Olympic Steel by 10.8% during the first quarter. BlackRock Inc. now owns 1,918,096 shares of the basic materials company’s stock worth $73,769,000 after buying an additional 186,607 shares during the last quarter. Invesco Ltd. boosted its holdings in Olympic Steel by 36.2% during the first quarter. Invesco Ltd. now owns 957,825 shares of the basic materials company’s stock worth $36,838,000 after buying an additional 254,383 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Olympic Steel by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 880,451 shares of the basic materials company’s stock worth $33,861,000 after buying an additional 7,798 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Olympic Steel by 1.3% during the first quarter. Vanguard Group Inc. now owns 655,712 shares of the basic materials company’s stock worth $25,218,000 after buying an additional 8,613 shares during the last quarter. Finally, State Street Corp raised its position in shares of Olympic Steel by 26.3% during the first quarter. State Street Corp now owns 392,783 shares of the basic materials company’s stock worth $15,106,000 after purchasing an additional 81,680 shares during the period. Institutional investors and hedge funds own 74.62% of the company’s stock.

Separately, StockNews.com upgraded Olympic Steel from a “hold” rating to a “buy” rating in a research note on Friday, May 20th.

About Olympic Steel (Get Rating)

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.

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