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. 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 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 Stock Performance

Shares of RDUS opened at $17.43 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.96 and a debt-to-equity ratio of 0.43. The company has a 50-day simple moving average of $20.93 and a 200-day simple moving average of $24.55. Radius Recycling has a 52 week low of $16.90 and a 52 week high of $36.64.

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

Analysts Set New Price Targets

Several research analysts recently commented on RDUS shares. StockNews.com cut Radius Recycling from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Seaport Res Ptn downgraded shares of Radius Recycling from a “neutral” rating to a “sell” rating in a report on Wednesday, February 28th.

Institutional Trading of Radius Recycling

Several hedge funds have recently modified their holdings of RDUS. Captrust Financial Advisors lifted its position in Radius Recycling by 357.0% during the 2nd quarter. Captrust Financial Advisors now owns 754 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 589 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Radius Recycling by 123.4% in the first quarter. Tower Research Capital LLC TRC now owns 849 shares of the basic materials company’s stock valued at $26,000 after buying an additional 469 shares during the period. Point72 Hong Kong Ltd bought a new position in Radius Recycling in the second quarter valued at approximately $45,000. Point72 Middle East FZE acquired a new stake in Radius Recycling during the 2nd quarter worth $54,000. Finally, Citigroup Inc. grew its holdings in Radius Recycling by 120.0% during the 1st quarter. Citigroup Inc. now owns 1,883 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 1,027 shares during the period. 78.11% of the stock is owned by institutional investors.

Radius Recycling Company Profile

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.