KLP Kapitalforvaltning AS Buys New Shares in Radius Recycling, Inc. (NASDAQ:RDUS)

KLP Kapitalforvaltning AS bought a new position in shares of Radius Recycling, Inc. (NASDAQ:RDUS - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 275,900 shares of the basic materials company's stock, valued at approximately $4,199,000. KLP Kapitalforvaltning AS owned 0.98% of Radius Recycling at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RDUS. Proficio Capital Partners LLC bought a new position in Radius Recycling during the fourth quarter valued at $1,342,000. E. Ohman J or Asset Management AB increased its holdings in Radius Recycling by 29.9% in the 4th quarter. E. Ohman J or Asset Management AB now owns 98,650 shares of the basic materials company's stock worth $1,501,000 after acquiring an additional 22,700 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Radius Recycling by 67.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company's stock valued at $1,537,000 after acquiring an additional 33,298 shares during the period. Jane Street Group LLC lifted its holdings in Radius Recycling by 62.9% during the third quarter. Jane Street Group LLC now owns 90,813 shares of the basic materials company's stock valued at $1,684,000 after purchasing an additional 35,073 shares during the last quarter. Finally, Barclays PLC boosted its position in Radius Recycling by 156.2% during the third quarter. Barclays PLC now owns 58,337 shares of the basic materials company's stock worth $1,081,000 after purchasing an additional 35,568 shares during the period. 78.11% of the stock is owned by hedge funds and other institutional investors.

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Radius Recycling Price Performance

Shares of RDUS traded down $0.10 during midday trading on Friday, hitting $28.98. 983,314 shares of the company traded hands, compared to its average volume of 318,774. The stock has a 50-day moving average of $16.46 and a 200-day moving average of $16.90. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97. Radius Recycling, Inc. has a one year low of $10.57 and a one year high of $29.18. The firm has a market cap of $815.93 million, a P/E ratio of -2.89 and a beta of 1.67.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last posted its earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.67). The firm had revenue of $656.54 million during the quarter, compared to analysts' expectations of $665.90 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.64) earnings per share. As a group, sell-side analysts predict that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a $0.1875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.75 annualized dividend and a dividend yield of 2.59%. Radius Recycling's payout ratio is currently -7.49%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. StockNews.com began coverage on shares of Radius Recycling in a research report on Tuesday, March 25th. They issued a "sell" rating on the stock. The Goldman Sachs Group started coverage on Radius Recycling in a research report on Monday, December 2nd. They set a "neutral" rating and a $22.00 target price on the stock.

Radius Recycling 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.