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

Radius Recycling, Inc. (NASDAQ:RDUS) announced a quarterly dividend on Monday, April 1st, Wall Street Journal reports. Investors of record on Monday, April 22nd will be given a dividend of 0.1875 per share by the basic materials company on Monday, May 6th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Friday, April 19th.

Radius Recycling has a dividend payout ratio of 85.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Radius Recycling to earn $0.91 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 82.4%.

Radius Recycling Stock Down 1.0 %

NASDAQ RDUS opened at $17.43 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. The company’s 50 day simple moving average is $20.93 and its 200 day simple moving average is $24.55. Radius Recycling has a 12 month low of $16.90 and a 12 month high of $36.64.

Radius Recycling (NASDAQ:RDUS) last released its earnings results on Thursday, April 4th. The basic materials company reported ($1.04) EPS for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.05. Radius Recycling had a negative net margin of 2.28% and a negative return on equity of 1.73%. The business had revenue of $621.06 million for the quarter, compared to the consensus estimate of $626.35 million. During the same period in the previous year, the firm earned $0.14 EPS. The business’s revenue for the quarter was down 17.8% on a year-over-year basis. As a group, equities research analysts anticipate that Radius Recycling will post -3.53 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RDUS. Nuveen Asset Management LLC grew its position in Radius Recycling by 12.2% in the second quarter. Nuveen Asset Management LLC now owns 373,561 shares of the basic materials company’s stock worth $11,203,000 after acquiring an additional 40,632 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Radius Recycling by 13.5% during the 2nd quarter. Wells Fargo & Company MN now owns 40,099 shares of the basic materials company’s stock worth $1,203,000 after buying an additional 4,757 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Radius Recycling during the 2nd quarter worth $315,000. Lazard Asset Management LLC boosted its holdings in shares of Radius Recycling by 95.6% during the 2nd quarter. Lazard Asset Management LLC now owns 2,021 shares of the basic materials company’s stock worth $60,000 after buying an additional 988 shares during the period. Finally, Point72 Middle East FZE bought a new stake in shares of Radius Recycling during the 2nd quarter worth $54,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

Wall Street Analysts Forecast Growth

RDUS has been the topic of a number of recent analyst reports. Seaport Res Ptn lowered shares of Radius Recycling from a “neutral” rating to a “sell” rating in a report on Wednesday, February 28th. StockNews.com lowered shares of Radius Recycling from a “hold” rating to a “sell” rating in a report on Friday, April 5th.

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.