Radius Recycling, Inc. (NASDAQ:RDUS) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in Radius Recycling, Inc. (NASDAQ:RDUS - Free Report) by 33.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,090 shares of the basic materials company's stock after selling 19,432 shares during the quarter. Alliancebernstein L.P. owned 0.14% of Radius Recycling worth $595,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in Radius Recycling by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company's stock valued at $11,936,000 after purchasing an additional 36,618 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Radius Recycling in the fourth quarter valued at approximately $4,199,000. JPMorgan Chase & Co. grew its position in shares of Radius Recycling by 92.5% in the 4th quarter. JPMorgan Chase & Co. now owns 159,621 shares of the basic materials company's stock valued at $2,429,000 after buying an additional 76,702 shares during the last quarter. Empowered Funds LLC raised its stake in Radius Recycling by 5.1% during the 4th quarter. Empowered Funds LLC now owns 133,356 shares of the basic materials company's stock worth $2,030,000 after acquiring an additional 6,472 shares in the last quarter. Finally, Perpetual Ltd boosted its stake in Radius Recycling by 9.2% in the fourth quarter. Perpetual Ltd now owns 131,905 shares of the basic materials company's stock valued at $2,008,000 after acquiring an additional 11,060 shares in the last quarter. Hedge funds and other institutional investors own 78.11% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Radius Recycling in a research report on Friday. They issued a "sell" rating for the company.

Radius Recycling Stock Performance

Radius Recycling stock traded down $0.16 during trading hours on Monday, reaching $28.95. 756,008 shares of the stock were exchanged, compared to its average volume of 378,545. The stock has a market cap of $816.45 million, a P/E ratio of -2.89 and a beta of 1.07. The firm's 50 day moving average is $22.38 and its 200 day moving average is $18.34. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02. Radius Recycling, Inc. has a 52-week low of $10.57 and a 52-week high of $29.26.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last released its earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.08) by $0.09. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The company had revenue of $642.51 million for the quarter, compared to analysts' expectations of $635.94 million. Analysts predict that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 21st will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Monday, April 21st. Radius Recycling's dividend payout ratio is currently -7.52%.

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.