Fmr LLC Has $17.64 Million Position in Radius Recycling, Inc. (NASDAQ:RDUS)

FMR LLC raised its position in Radius Recycling, Inc. (NASDAQ:RDUS - Free Report) by 23.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 951,337 shares of the basic materials company's stock after purchasing an additional 182,435 shares during the period. FMR LLC owned approximately 3.39% of Radius Recycling worth $17,638,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD acquired a new stake in Radius Recycling during the 1st quarter worth approximately $251,000. American Century Companies Inc. raised its holdings in shares of 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 period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Radius Recycling in the 2nd quarter valued at $30,000. California State Teachers Retirement System acquired a new position in Radius Recycling in the 1st quarter worth $555,000. Finally, Algert Global LLC bought a new position in Radius Recycling during the 3rd quarter worth about $922,000. Institutional investors own 78.11% of the company's stock.

Radius Recycling Stock Down 1.1 %

NASDAQ RDUS traded down $0.20 during trading hours on Wednesday, hitting $18.82. 316,720 shares of the company traded hands, compared to its average volume of 219,078. The stock has a market capitalization of $527.69 million, a price-to-earnings ratio of -2.02 and a beta of 1.59. 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 twelve month low of $12.69 and a twelve month high of $31.70. The business's 50-day moving average is $18.40 and its 200-day moving average is $16.81.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.18. The business had revenue of $771.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. Sell-side analysts anticipate that Radius Recycling, Inc. 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 issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend was Tuesday, November 12th. Radius Recycling's dividend payout ratio is currently -8.01%.

Insider Activity at Radius Recycling

In other news, SVP Steven Heiskell sold 17,675 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total value of $301,889.00. Following the completion of the transaction, the senior vice president now directly owns 133,780 shares in the company, valued at approximately $2,284,962.40. The trade was a 11.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RDUS shares. StockNews.com upgraded Radius Recycling from a "sell" rating to a "hold" rating in a report on Wednesday, December 4th. The Goldman Sachs Group initiated coverage on shares of Radius Recycling in a research note on Monday, December 2nd. They set a "neutral" rating and a $22.00 price target for the company.

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.