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

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) declared a quarterly dividend on Tuesday, July 1st, RTT News reports. Investors of record on Monday, July 21st will be given a dividend of 0.1875 per share by the basic materials company on Monday, August 4th. This represents a $0.75 annualized dividend and a dividend yield of 2.53%.

Radius Recycling has a payout ratio of 468.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Radius Recycling Stock Performance

Radius Recycling stock opened at $29.69 on Tuesday. The firm has a fifty day simple moving average of $29.48 and a two-hundred day simple moving average of $22.21. The company has a quick ratio of 0.88, a current ratio of 1.81 and a debt-to-equity ratio of 0.78. Radius Recycling has a twelve month low of $10.57 and a twelve month high of $29.74. The company has a market capitalization of $837.26 million, a PE ratio of -2.97 and a beta of 1.02.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last released its quarterly earnings data on Friday, April 4th. The basic materials company reported ($0.99) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.09. The firm had revenue of $642.51 million for the quarter, compared to the consensus estimate of $635.94 million. Radius Recycling had a negative return on equity of 16.38% and a negative net margin of 10.37%. Research analysts expect that Radius Recycling will post -3.84 EPS for the current year.

Institutional Investors Weigh In On Radius Recycling

A number of large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings in shares of Radius Recycling by 82.6% during the first quarter. Goldman Sachs Group Inc. now owns 422,774 shares of the basic materials company's stock valued at $12,210,000 after acquiring an additional 191,278 shares in the last quarter. Millennium Management LLC increased its position in Radius Recycling by 300.3% during the 1st quarter. Millennium Management LLC now owns 595,714 shares of the basic materials company's stock valued at $17,204,000 after purchasing an additional 446,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Radius Recycling by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,700 shares of the basic materials company's stock worth $453,000 after purchasing an additional 708 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Radius Recycling by 7.3% in the 1st quarter. AQR Capital Management LLC now owns 60,224 shares of the basic materials company's stock worth $1,739,000 after purchasing an additional 4,092 shares during the period. 78.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on shares of Radius Recycling in a research note on Tuesday, May 20th. They set a "sell" rating for the company.

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.

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