Radius Recycling, Inc. (NASDAQ:RDUS) to Issue $0.19 Quarterly Dividend

Radius Recycling, Inc. (NASDAQ:RDUS) declared a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Shareholders of record on Monday, February 3rd will be given a dividend of 0.1875 per share by the basic materials company on Tuesday, February 18th. This represents a $0.75 annualized dividend and a yield of 6.53%. The ex-dividend date is Monday, February 3rd.

Radius Recycling has a payout ratio of 111.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Radius Recycling Price Performance

Shares of RDUS stock traded down $3.29 on Wednesday, reaching $11.48. The company had a trading volume of 928,988 shares, compared to its average volume of 347,293. The business’s 50-day moving average is $17.72 and its 200 day moving average is $16.79. The stock has a market capitalization of $321.89 million, a PE ratio of -1.23 and a beta of 1.64. Radius Recycling has a one year low of $10.57 and a one year high of $28.02. The company has a quick ratio of 1.00, a current ratio of 1.92 and a debt-to-equity ratio of 0.65.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings data on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.67). The firm had revenue of $656.54 million for the quarter, compared to analyst estimates of $665.90 million. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.64) earnings per share. Equities research analysts forecast that Radius Recycling will post -1.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on RDUS shares. StockNews.com downgraded shares of Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. The Goldman Sachs Group assumed coverage on shares of Radius Recycling in a research note on Monday, December 2nd. They issued a “neutral” rating and a $22.00 target price for the company.

Insiders Place Their Bets

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of Radius Recycling stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total value of $301,889.00. Following the transaction, the senior vice president now directly owns 133,780 shares of the company’s stock, valued at $2,284,962.40. The trade was a 11.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.90% of the company’s stock.

Radius Recycling Company Profile

Radius Recycling, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.