Olympic Steel said on May 4, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.50 annualized). Previously, the company paid $0.12 per share.
Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.
At the current share price of $46.16 / share, the stock's dividend yield is 1.08%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.63%, the lowest has been 0.22%, and the highest has been 1.56%. The standard deviation of yields is 0.32 (n=236).
The current dividend yield is 1.40 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 5.25%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 358 funds or institutions reporting positions in Olympic Steel. This is an increase of 26 owner(s) or 7.83% in the last quarter. Average portfolio weight of all funds dedicated to ZEUS is 0.10%, an increase of 34.58%. Total shares owned by institutions increased in the last three months by 5.56% to 10,710K shares. 
The put/call ratio of ZEUS is 0.91, indicating a bullish outlook.
Analyst Price Forecast Suggests 33.13% Upside
As of April 24, 2023, the average one-year price target for Olympic Steel is 61.46. The forecasts range from a low of 60.85 to a high of $63.26. The average price target represents an increase of 33.13% from its latest reported closing price of 46.16.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Olympic Steel is 2,106MM, a decrease of 13.57%. The projected annual non-GAAP EPS is 2.23.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 722K shares representing 6.48% ownership of the company. In it's prior filing, the firm reported owning 702K shares, representing an increase of 2.77%. The firm increased its portfolio allocation in ZEUS by 37.74% over the last quarter.
Invesco holds 651K shares representing 5.85% ownership of the company. In it's prior filing, the firm reported owning 654K shares, representing a decrease of 0.56%. The firm increased its portfolio allocation in ZEUS by 33.22% over the last quarter.
Acadian Asset Management holds 395K shares representing 3.55% ownership of the company. In it's prior filing, the firm reported owning 400K shares, representing a decrease of 1.14%. The firm increased its portfolio allocation in ZEUS by 31.09% over the last quarter.
XSVM - Invesco S&P SmallCap Value with Momentum ETF holds 357K shares representing 3.21% ownership of the company. In it's prior filing, the firm reported owning 383K shares, representing a decrease of 7.08%. The firm increased its portfolio allocation in ZEUS by 38.64% over the last quarter.
Ameriprise Financial holds 323K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 326K shares, representing a decrease of 0.94%. The firm increased its portfolio allocation in ZEUS by 637.64% over the last quarter.
Olympic Steel Background Information
(This description is provided by the company.)
Founded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel, aluminum, tin plate, and metal-intensive branded products. The Company's CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricator of value-added parts and components. Headquartered in Cleveland, Ohio, Olympic Steel operates from 36 facilities in North America.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
