Radius Recycling, Inc. (NASDAQ:RDUS) Plans Quarterly Dividend of $0.19

Radius Recycling, Inc. (NASDAQ:RDUS) announced a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date of this dividend 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 Trading Down 22.7 %

RDUS opened at $11.41 on Thursday. Radius Recycling has a one year low of $10.57 and a one year high of $28.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.00. The business has a 50 day simple moving average of $17.72 and a two-hundred day simple moving average of $16.79. The firm has a market capitalization of $319.92 million, a price-to-earnings ratio of -1.22 and a beta of 1.64.

Radius Recycling (NASDAQ:RDUS) last announced its earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). The business had revenue of $656.54 million for the quarter, compared to the consensus estimate of $665.90 million. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. Radius Recycling’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.64) EPS. Analysts predict that Radius Recycling will post -1.02 EPS for the current year.

Wall Street Analysts Forecast Growth

RDUS has been the topic of a number of research reports. The Goldman Sachs Group started coverage on shares of Radius Recycling in a research note on Monday, December 2nd. They set a “neutral” rating and a $22.00 target price on the stock. StockNews.com downgraded Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th.

Insider Activity

In other news, SVP Steven Heiskell sold 17,675 shares of Radius Recycling stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total transaction of $301,889.00. Following the completion of the transaction, the senior vice president now directly owns 133,780 shares in the company, valued at approximately $2,284,962.40. This trade represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.