Radius Recycling (NASDAQ:RDUS) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Radius Recycling (NASDAQ:RDUS) in a report released on Saturday morning. The brokerage issued a sell rating on the basic materials company’s stock.

Radius Recycling Stock Performance

RDUS stock opened at $29.22 on Friday. The company has a market capitalization of $824.06 million, a P/E ratio of -2.92 and a beta of 1.07. The company has a 50-day simple moving average of $24.01 and a 200 day simple moving average of $18.71. Radius Recycling has a fifty-two week low of $10.57 and a fifty-two week high of $29.30. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings data on Friday, April 4th. The basic materials company reported ($0.99) earnings per share for the quarter, topping the consensus estimate of ($1.08) by $0.09. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The business had revenue of $642.51 million during the quarter, compared to the consensus estimate of $635.94 million. Sell-side analysts predict that Radius Recycling will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 21st will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $0.75 annualized dividend and a dividend yield of 2.57%. Radius Recycling’s dividend payout ratio (DPR) is -7.52%.

Hedge Funds Weigh In On Radius Recycling

Several large investors have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its position in shares of Radius Recycling by 17.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company’s stock valued at $38,039,000 after purchasing an additional 377,212 shares in the last quarter. Systematic Financial Management LP boosted its holdings in shares of Radius Recycling by 9.2% in the fourth quarter. Systematic Financial Management LP now owns 689,315 shares of the basic materials company’s stock worth $10,491,000 after buying an additional 58,353 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Radius Recycling by 6.0% in the third quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company’s stock worth $11,936,000 after buying an additional 36,618 shares during the period. Perpetual Ltd boosted its holdings in shares of Radius Recycling by 159.6% in the first quarter. Perpetual Ltd now owns 342,466 shares of the basic materials company’s stock worth $9,890,000 after buying an additional 210,561 shares during the period. Finally, Icon Advisers Inc. Co. boosted its holdings in shares of Radius Recycling by 115.9% in the fourth quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company’s stock worth $4,338,000 after buying an additional 153,000 shares during the period. Institutional investors own 78.11% of the company’s stock.

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.