Radius Recycling, Inc. (NASDAQ:RDUS) Stake Boosted by Empowered Funds LLC

Empowered Funds LLC raised its stake in Radius Recycling, Inc. (NASDAQ:RDUS) by 5.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 126,884 shares of the basic materials company’s stock after buying an additional 6,432 shares during the quarter. Empowered Funds LLC owned approximately 0.45% of Radius Recycling worth $2,352,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Founders Capital Management lifted its stake in Radius Recycling by 50.0% in the third quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock valued at $33,000 after buying an additional 600 shares during the last quarter. Gladius Capital Management LP bought a new stake in Radius Recycling in the second quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Radius Recycling in the second quarter valued at $30,000. Ameritas Investment Partners Inc. bought a new stake in Radius Recycling in the first quarter valued at $54,000. Finally, Banque Cantonale Vaudoise lifted its stake in Radius Recycling by 23.6% in the second quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock valued at $45,000 after buying an additional 564 shares during the last quarter. 78.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded Radius Recycling from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

Insider Buying and Selling

In related news, SVP Steven Heiskell sold 17,675 shares of Radius Recycling stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total transaction of $301,889.00. Following the transaction, the senior vice president now directly owns 133,780 shares of the company’s stock, valued at $2,284,962.40. The trade was a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.70% of the stock is owned by corporate insiders.

Radius Recycling Price Performance

Shares of RDUS opened at $17.57 on Wednesday. The firm has a market capitalization of $492.66 million, a price-to-earnings ratio of -1.88 and a beta of 1.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92. Radius Recycling, Inc. has a one year low of $12.69 and a one year high of $31.70. The stock’s fifty day moving average is $17.74 and its 200-day moving average is $16.68.

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

Radius Recycling Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Tuesday, November 12th. Radius Recycling’s dividend payout ratio (DPR) is -8.01%.

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.