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

Radius Recycling, Inc. (NASDAQ:RDUS) declared a quarterly dividend on Tuesday, October 22nd,Wall Street Journal reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 0.1875 per share by the basic materials company on Tuesday, November 26th. This represents a $0.75 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, November 12th.

Radius Recycling has a dividend payout ratio of -187.5% 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 Performance

Radius Recycling stock opened at $19.92 on Friday. The firm has a fifty day simple moving average of $17.21 and a two-hundred day simple moving average of $16.65. 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 has a twelve month low of $12.69 and a twelve month high of $31.70. The company has a market capitalization of $558.54 million, a PE ratio of -2.13 and a beta of 1.55.

Radius Recycling (NASDAQ:RDUS) last issued its earnings results on Thursday, October 24th. The basic materials company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.18. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The company had revenue of $771.00 million for the quarter, compared to the consensus estimate of $680.80 million. During the same period in the previous year, the firm earned $0.47 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts expect that Radius Recycling will post -1.02 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Radius Recycling from a “sell” rating to a “hold” rating in a research note on Friday.

Insider Activity

In related news, SVP Steven Heiskell sold 17,675 shares of the business’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 completion of the transaction, the senior vice president now directly owns 133,780 shares in the company, valued at approximately $2,284,962.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.70% 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.