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

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) declared a quarterly dividend on Friday, April 5th, Wall Street Journal reports. Shareholders 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 3.75%. The ex-dividend date of this dividend is Friday, April 19th.

Radius Recycling has a payout ratio of 80.6% meaning 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 Price Performance

Shares of NASDAQ:RDUS traded up $0.37 during trading on Friday, reaching $19.98. The company had a trading volume of 221,972 shares, compared to its average volume of 199,137. The firm's fifty day moving average is $21.95 and its 200 day moving average is $25.03. The firm has a market capitalization of $556.64 million, a PE ratio of -21.26 and a beta of 1.60. Radius Recycling has a twelve month low of $17.04 and a twelve month high of $36.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 1.75.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last issued its quarterly 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. The company had revenue of $621.06 million during the quarter, compared to analyst estimates of $626.35 million. Radius Recycling had a negative net margin of 0.88% and a positive return on equity of 1.97%. The business's revenue for the quarter was down 17.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 EPS. On average, equities analysts forecast that Radius Recycling will post -3.53 EPS for the current year.

Analysts Set New Price Targets

Separately, Seaport Res Ptn lowered shares of Radius Recycling from a "neutral" rating to a "sell" rating in a research note on Wednesday, February 28th.

Institutional Trading of Radius Recycling

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Radius Recycling by 19.5% during the first quarter. BlackRock Inc. now owns 3,216,557 shares of the basic materials company's stock valued at $100,035,000 after acquiring an additional 524,126 shares during the period. State Street Corp raised its holdings in shares of Radius Recycling by 36.2% during 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 acquiring an additional 404,669 shares during the period. Millennium Management LLC raised its holdings in shares of Radius Recycling by 274.4% during the fourth quarter. Millennium Management LLC now owns 386,848 shares of the basic materials company's stock valued at $11,857,000 after acquiring an additional 283,518 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Radius Recycling by 18.0% during the first quarter. Ameriprise Financial Inc. now owns 1,545,045 shares of the basic materials company's stock valued at $48,051,000 after acquiring an additional 235,600 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Radius Recycling by 1,855.0% during the first quarter. Allianz Asset Management GmbH now owns 161,935 shares of the basic materials company's stock valued at $8,411,000 after acquiring an additional 153,652 shares during the period. 78.11% of the stock is currently owned by institutional investors.

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.