Radius Recycling, Inc. (RDUS) To Go Ex-Dividend on April 19th

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 annualized dividend and a yield of 4.30%. 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 decline. Research 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 Radius Recycling stock opened at $17.43 on Wednesday. The stock’s 50 day simple moving average is $20.93 and its 200-day simple moving average is $24.55. 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 quick ratio of 0.92 and a current ratio of 1.96.

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 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 business 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 EPS. The business’s revenue for the quarter was down 17.8% compared to the same quarter last year. On average, equities analysts anticipate that Radius Recycling will post -3.53 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Radius Recycling

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

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.