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. Investors of record on Monday, February 3rd will be paid 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 6.53%. The ex-dividend date is Monday, February 3rd.

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

Radius Recycling Stock Down 22.3 %

Shares of NASDAQ RDUS traded down $3.29 during mid-day trading on Wednesday, reaching $11.48. The company had a trading volume of 928,988 shares, compared to its average volume of 347,293. The firm has a 50 day simple moving average of $17.72 and a two-hundred day simple moving average of $16.79. The company has a current ratio of 1.92, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. The stock has a market cap of $321.89 million, a P/E ratio of -1.23 and a beta of 1.64. Radius Recycling has a 52-week low of $10.57 and a 52-week high of $28.02.

Radius Recycling (NASDAQ:RDUS) last announced its quarterly 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 return on equity of 9.83% and a negative net margin of 9.73%. The business had revenue of $656.54 million for the quarter, compared to analysts’ expectations of $665.90 million. During the same period last year, the company posted ($0.64) earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts predict that Radius Recycling will post -1.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of Radius Recycling in a research note on Monday, December 2nd. They set a “neutral” rating and a $22.00 price objective on the stock. StockNews.com cut shares of Radius Recycling from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th.

Insider Activity at Radius Recycling

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of Radius Recycling stock in a transaction 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 sale, the senior vice president now owns 133,780 shares in the company, valued at $2,284,962.40. The trade was a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.