Systematic Financial Management LP lifted its holdings in shares of Radius Recycling, Inc. (NASDAQ:RDUS - Free Report) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 630,962 shares of the basic materials company's stock after buying an additional 49,450 shares during the period. Systematic Financial Management LP owned approximately 2.25% of Radius Recycling worth $11,698,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Gladius Capital Management LP purchased a new position in Radius Recycling in the second quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Radius Recycling in the second quarter worth about $30,000. Quarry LP purchased a new position in Radius Recycling in the third quarter worth about $32,000. Founders Capital Management boosted its position in Radius Recycling by 50.0% in the third quarter. Founders Capital Management now owns 1,800 shares of the basic materials company's stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in Radius Recycling by 23.6% in the second quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company's stock worth $45,000 after purchasing an additional 564 shares during the last quarter. 78.11% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have issued reports on RDUS. StockNews.com raised Radius Recycling from a "sell" rating to a "hold" rating in a research report on Wednesday. The Goldman Sachs Group assumed coverage on Radius Recycling in a research report on Monday. They issued a "neutral" rating and a $22.00 target price on the stock.
Get Our Latest Stock Report on RDUS
Insider Activity at Radius Recycling
In related news, SVP Steven Heiskell sold 17,675 shares of Radius Recycling stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total transaction of $301,889.00. Following the sale, the senior vice president now owns 133,780 shares of the company's stock, valued at approximately $2,284,962.40. This trade represents a 11.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.70% of the stock is owned by corporate insiders.
Radius Recycling Stock Performance
Shares of NASDAQ RDUS traded down $0.85 during trading on Friday, hitting $18.79. The company had a trading volume of 123,258 shares, compared to its average volume of 219,144. The stock has a 50 day simple moving average of $18.38 and a 200 day simple moving average of $16.81. 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 12 month low of $12.69 and a 12 month high of $31.70. The firm has a market capitalization of $526.87 million, a P/E ratio of -2.01 and a beta of 1.59.
Radius Recycling (NASDAQ:RDUS - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.18. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The firm had revenue of $771.00 million for the quarter, compared to the consensus estimate of $680.80 million. During the same quarter last year, the company earned $0.47 earnings per share. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, analysts anticipate that Radius Recycling, Inc. will post -1.02 earnings per share for the current year.
Radius Recycling Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Tuesday, November 12th. Radius Recycling's dividend payout ratio (DPR) is presently -8.01%.
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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