Radius Recycling (NASDAQ:RDUS) Cut to Sell at StockNews.com

StockNews.com lowered shares of Radius Recycling (NASDAQ:RDUS) from a hold rating to a sell rating in a research report released on Thursday.

Separately, The Goldman Sachs Group began coverage on Radius Recycling in a report on Monday, December 2nd. They set a “neutral” rating and a $22.00 price objective on the stock.

Radius Recycling Trading Down 2.7 %

Shares of RDUS opened at $15.23 on Thursday. The stock’s 50-day moving average price is $17.97 and its 200 day moving average price is $16.79. The company has a quick ratio of 1.00, a current ratio of 1.92 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $427.03 million, a price-to-earnings ratio of -1.63 and a beta of 1.59. Radius Recycling has a 12-month low of $12.69 and a 12-month high of $31.59.

Radius Recycling (NASDAQ:RDUS) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $771.00 million during the quarter, compared to analysts’ expectations of $680.80 million. During the same quarter in the prior year, the company posted $0.47 EPS. The business’s revenue was up 7.4% on a year-over-year basis. As a group, research analysts predict that Radius Recycling will post -1.02 earnings per share for the current year.

Radius Recycling Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.1875 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.75 annualized dividend and a dividend yield of 4.92%. Radius Recycling’s dividend payout ratio is presently -8.01%.

Insider Buying and Selling at Radius Recycling

In related news, SVP Steven Heiskell sold 17,675 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total transaction of $301,889.00. Following the transaction, the senior vice president now owns 133,780 shares in the company, valued at $2,284,962.40. This represents a 11.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Radius Recycling

A number of institutional investors have recently modified their holdings of RDUS. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Radius Recycling during the second quarter worth $30,000. Quarry LP bought a new stake in Radius Recycling during the 3rd quarter worth about $32,000. Founders Capital Management lifted its position in Radius Recycling by 50.0% during the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 600 shares during the period. Banque Cantonale Vaudoise boosted its stake in shares of Radius Recycling by 23.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 564 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Radius Recycling in the 3rd quarter valued at about $46,000. 78.11% of the stock is owned by institutional investors.

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.