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

Radius Recycling, Inc. (NASDAQ:RDUS) announced a quarterly dividend on Monday, April 1st, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a 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 tumble. 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 %

Shares of NASDAQ:RDUS opened at $17.43 on Wednesday. Radius Recycling has a 1 year low of $16.90 and a 1 year high of $36.64. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 0.92. The business’s 50-day moving average is $20.93 and its 200-day moving average is $24.55.

Radius Recycling (NASDAQ:RDUS) last issued its earnings results on Thursday, April 4th. The basic materials company reported ($1.04) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $621.06 million during the quarter, compared to the consensus estimate of $626.35 million. During the same period in the previous year, the company posted $0.14 earnings per share. The firm’s revenue for the quarter was down 17.8% on a year-over-year basis. On average, research analysts anticipate that Radius Recycling will post -3.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Radius Recycling by 19.5% in the 1st quarter. BlackRock Inc. now owns 3,216,557 shares of the basic materials company’s stock worth $100,035,000 after acquiring an additional 524,126 shares during the last quarter. Vanguard Group Inc. increased its holdings in Radius Recycling by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,722,756 shares of the basic materials company’s stock worth $77,489,000 after purchasing an additional 43,304 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Radius Recycling by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,283,655 shares of the basic materials company’s stock worth $71,021,000 after purchasing an additional 82,346 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Radius Recycling by 18.0% in the first quarter. Ameriprise Financial Inc. now owns 1,545,045 shares of the basic materials company’s stock worth $48,051,000 after purchasing an additional 235,600 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Radius Recycling by 36.2% in the first quarter. State Street Corp now owns 1,521,234 shares of the basic materials company’s stock valued at $79,013,000 after purchasing an additional 404,669 shares in the last quarter. 78.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RDUS has been the subject of several research reports. StockNews.com downgraded Radius Recycling from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Seaport Res Ptn cut Radius Recycling from a “neutral” rating to a “sell” rating in a research note on Wednesday, February 28th.

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.