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

Radius Recycling, Inc. (NASDAQ:RDUS) announced a quarterly dividend on Monday, April 1st, Wall Street Journal reports. Stockholders of record on Monday, April 22nd will be paid a dividend of 0.1875 per share by the basic materials company on Monday, May 6th. This represents a $0.75 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Friday, April 19th.

Radius Recycling has a dividend payout ratio of 85.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Up 4.5 %

Shares of NASDAQ RDUS opened at $18.22 on Thursday. The business’s 50 day moving average is $20.80 and its two-hundred day moving average is $24.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 0.92. Radius Recycling has a 1-year low of $16.90 and a 1-year high of $36.64.

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

Institutional Trading of Radius Recycling

A number of large investors have recently modified their holdings of RDUS. Nuveen Asset Management LLC lifted its holdings in Radius Recycling by 12.2% during the second quarter. Nuveen Asset Management LLC now owns 373,561 shares of the basic materials company’s stock worth $11,203,000 after buying an additional 40,632 shares during the period. Wells Fargo & Company MN increased its position in shares of Radius Recycling by 13.5% during the second quarter. Wells Fargo & Company MN now owns 40,099 shares of the basic materials company’s stock worth $1,203,000 after purchasing an additional 4,757 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Radius Recycling during the second quarter worth $315,000. Lazard Asset Management LLC increased its position in shares of Radius Recycling by 95.6% during the second quarter. Lazard Asset Management LLC now owns 2,021 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 988 shares in the last quarter. Finally, Point72 Middle East FZE acquired a new position in shares of Radius Recycling during the second quarter worth $54,000. Hedge funds and other institutional investors own 78.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Seaport Res Ptn cut Radius Recycling from a “neutral” rating to a “sell” rating in a research note on Wednesday, February 28th. StockNews.com lowered Radius Recycling from a “hold” rating to a “sell” rating in a report on Friday, April 5th.

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.