Radius Recycling (NASDAQ:RDUS) Downgraded to “Sell” Rating by StockNews.com

StockNews.com cut shares of Radius Recycling (NASDAQ:RDUS) from a hold rating to a sell rating in a report released on Tuesday morning.

Radius Recycling Price Performance

NASDAQ:RDUS opened at $19.44 on Tuesday. The company has a 50 day moving average price of $18.06 and a 200-day moving average price of $16.72. Radius Recycling has a 1-year low of $12.69 and a 1-year high of $31.70. The firm has a market cap of $545.08 million, a price-to-earnings ratio of -2.08 and a beta of 1.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.00.

Radius Recycling (NASDAQ:RDUS) last posted its earnings results on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.18. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The business had revenue of $771.00 million for the quarter, compared to analyst estimates of $680.80 million. During the same period in the prior year, the company posted $0.47 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts forecast that Radius Recycling will post -1.02 EPS for the current year.

Radius Recycling Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Tuesday, November 12th. Radius Recycling’s dividend payout ratio is presently -8.01%.

Insider Activity

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total transaction of $301,889.00. Following the completion of the transaction, the senior vice president now owns 133,780 shares of the company’s stock, valued at $2,284,962.40. This represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RDUS. Swedbank AB purchased a new stake in shares of Radius Recycling during the first quarter worth $1,437,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Radius Recycling in the first quarter worth about $251,000. American Century Companies Inc. boosted its position in Radius Recycling by 2.9% during the second quarter. American Century Companies Inc. now owns 564,717 shares of the basic materials company’s stock worth $8,623,000 after acquiring an additional 16,162 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Radius Recycling during the 2nd quarter valued at about $30,000. Finally, Boston Partners purchased a new stake in Radius Recycling during the 1st quarter valued at about $279,000. 78.11% of the stock is owned by institutional investors and hedge funds.

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.