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

Radius Recycling, Inc. (NASDAQ:RDUS) declared 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 Price Performance

Radius Recycling stock opened at $11.41 on Thursday. The business has a 50-day simple moving average of $17.72 and a 200 day simple moving average of $16.79. Radius Recycling has a 52 week low of $10.57 and a 52 week high of $28.02. The stock has a market cap of $319.92 million, a price-to-earnings ratio of -1.22 and a beta of 1.64. 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 announced its earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The company had revenue of $656.54 million during the quarter, compared to analysts’ expectations of $665.90 million. During the same period in the prior year, the business earned ($0.64) earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts forecast that Radius Recycling will post -1.02 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Steven Heiskell sold 17,675 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total transaction of $301,889.00. Following the transaction, the senior vice president now directly owns 133,780 shares in the company, valued at $2,284,962.40. This trade represents a 11.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RDUS. The Goldman Sachs Group started coverage on Radius Recycling in a research note on Monday, December 2nd. They issued a “neutral” rating and a $22.00 target price on the stock. StockNews.com lowered Radius Recycling from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th.

About Radius Recycling

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.