Bank of New York Mellon Corp trimmed its position in shares of Radius Recycling, Inc. (NASDAQ:RDUS - Free Report) by 48.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,691 shares of the basic materials company's stock after selling 257,941 shares during the period. Bank of New York Mellon Corp owned about 0.96% of Radius Recycling worth $4,105,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Radius Recycling during the third quarter worth $32,000. Point72 DIFC Ltd purchased a new stake in shares of Radius Recycling during the third quarter worth $46,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Radius Recycling by 172.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company's stock worth $99,000 after acquiring an additional 3,394 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Radius Recycling during the fourth quarter worth $140,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Radius Recycling during the fourth quarter worth $160,000. 78.11% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. 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 for the company. StockNews.com downgraded shares of Radius Recycling from a "hold" rating to a "sell" rating in a research report on Thursday, December 26th.
Check Out Our Latest Stock Analysis on Radius Recycling
Radius Recycling Stock Up 0.2 %
Radius Recycling stock traded up $0.06 during mid-day trading on Friday, hitting $29.05. 2,139,527 shares of the company's stock were exchanged, compared to its average volume of 300,782. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The stock has a market cap of $817.90 million, a P/E ratio of -2.90 and a beta of 1.67. Radius Recycling, Inc. has a 1-year low of $10.57 and a 1-year high of $29.16. The stock has a 50 day moving average of $14.74 and a two-hundred day moving average of $16.38.
Radius Recycling (NASDAQ:RDUS - Get Free Report) last posted its earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.67). The business had revenue of $656.54 million for the quarter, compared to analyst estimates of $665.90 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.64) earnings per share. As a group, analysts anticipate that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.
Radius Recycling Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, February 3rd. Radius Recycling's dividend payout ratio is currently -7.49%.
About Radius Recycling
(
Free Report)
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.
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