Russell Investments Group Ltd. Buys New Shares in Radius Recycling, Inc. (NASDAQ:RDUS)

Russell Investments Group Ltd. acquired a new stake in shares of Radius Recycling, Inc. (NASDAQ:RDUS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 183,831 shares of the basic materials company's stock, valued at approximately $3,884,000. Russell Investments Group Ltd. owned approximately 0.66% of Radius Recycling as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sei Investments Co. bought a new stake in Radius Recycling during the first quarter worth $1,649,000. Susquehanna Portfolio Strategies LLC bought a new stake in Radius Recycling during the 1st quarter valued at $324,000. Swiss National Bank purchased a new stake in Radius Recycling during the 1st quarter worth about $1,082,000. Empowered Funds LLC bought a new position in shares of Radius Recycling in the first quarter valued at approximately $2,363,000. Finally, Lesa Sroufe & Co bought a new position in Radius Recycling in the 1st quarter valued at $1,321,000. 78.11% of the stock is owned by institutional investors.

Radius Recycling Price Performance

Shares of RDUS stock traded down $0.65 during trading hours on Wednesday, hitting $17.09. 232,658 shares of the company's stock were exchanged, compared to its average volume of 244,581. The company has a market capitalization of $479.20 million, a PE ratio of -1.77 and a beta of 1.56. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. Radius Recycling, Inc. has a 12-month low of $12.69 and a 12-month high of $36.64. The business's 50 day simple moving average is $16.35 and its 200-day simple moving average is $19.75.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last released its earnings results on Tuesday, July 2nd. The basic materials company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.07. The company had revenue of $673.92 million for the quarter, compared to analyst estimates of $693.90 million. Radius Recycling had a negative net margin of 10.28% and a negative return on equity of 5.89%. The firm's quarterly revenue was down 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 EPS. On average, equities research analysts anticipate that Radius Recycling, Inc. will post -3.06 earnings per share for the current year.

Radius Recycling Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 22nd will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend is Monday, July 22nd. Radius Recycling's dividend payout ratio (DPR) is presently -7.72%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RDUS shares. Seaport Res Ptn raised Radius Recycling from a "strong sell" rating to a "hold" rating in a report on Thursday, May 30th. StockNews.com lowered Radius Recycling from a "hold" rating to a "sell" rating in a research report on Thursday, July 11th.

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.