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

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 yield of 4.12%. The ex-dividend date 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 Trading Up 4.5 %

RDUS stock opened at $18.22 on Thursday. Radius Recycling has a twelve month low of $16.90 and a twelve month high of $36.64. The firm has a 50 day simple moving average of $20.80 and a 200-day simple moving average of $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 (NASDAQ:RDUS) last posted its quarterly earnings results on Thursday, April 4th. The basic materials company reported ($1.04) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $626.35 million. During the same period in the previous year, the business posted $0.14 EPS. The company’s quarterly revenue was down 17.8% on a year-over-year basis. As a group, sell-side analysts expect that Radius Recycling will post -3.53 EPS for the current year.

Hedge Funds Weigh In On Radius Recycling

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC acquired a new stake in shares of Radius Recycling in the first quarter valued at $246,000. Meeder Asset Management Inc. lifted its holdings in Radius Recycling by 125.5% in the 4th quarter. Meeder Asset Management Inc. now owns 7,306 shares of the basic materials company’s stock valued at $224,000 after acquiring an additional 4,066 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Radius Recycling during the 4th quarter valued at about $220,000. PNC Financial Services Group Inc. grew its stake in shares of Radius Recycling by 7.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,698 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 328 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Radius Recycling by 53.4% in the 1st quarter. US Bancorp DE now owns 2,339 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 814 shares during the last quarter. 78.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RDUS. Seaport Res Ptn lowered Radius Recycling from a “neutral” rating to a “sell” rating in a research report on Wednesday, February 28th. StockNews.com downgraded shares of 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.