Radius Recycling, Inc. (NASDAQ:RDUS – Get Free Report) declared a quarterly dividend on Wednesday, July 3rd, Wall Street Journal reports. Investors of record on Monday, July 22nd will be paid a dividend of 0.1875 per share by the basic materials company on Monday, August 5th. This represents a $0.75 annualized dividend and a yield of 4.72%. The ex-dividend date is Monday, July 22nd.
Radius Recycling has a dividend payout ratio of 123.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Radius Recycling to earn $0.35 per share next year, which means the company may not be able to cover its $0.75 annual dividend with an expected future payout ratio of 214.3%.
Radius Recycling Stock Up 8.2 %
RDUS traded up $1.21 during midday trading on Wednesday, hitting $15.88. 303,878 shares of the company’s stock traded hands, compared to its average volume of 242,469. The company has a market cap of $444.32 million, a PE ratio of -6.81 and a beta of 1.56. The stock’s fifty day simple moving average is $16.85 and its 200-day simple moving average is $21.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 0.92. Radius Recycling has a one year low of $12.69 and a one year high of $36.64.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on RDUS shares. Seaport Res Ptn upgraded Radius Recycling from a “strong sell” rating to a “hold” rating in a report on Thursday, May 30th. StockNews.com downgraded Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd.
Check Out Our Latest Research Report on Radius Recycling
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.
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