StockNews.com Initiates Coverage on Radius Recycling (NASDAQ:RDUS)

StockNews.com began coverage on shares of Radius Recycling (NASDAQ:RDUS - Free Report) in a report issued on Tuesday. The firm issued a sell rating on the basic materials company's stock.

Separately, The Goldman Sachs Group initiated coverage on Radius Recycling in a research report on Monday, December 2nd. They issued a "neutral" rating and a $22.00 target price on the stock.

Radius Recycling Price Performance

Shares of RDUS stock traded down $0.10 during trading hours on Tuesday, hitting $28.98. 983,314 shares of the company's stock were exchanged, compared to its average volume of 318,658. Radius Recycling has a fifty-two week low of $10.57 and a fifty-two week high of $29.80. The firm has a market cap of $815.93 million, a P/E ratio of -2.89 and a beta of 1.67. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average of $16.13 and a two-hundred day moving average of $16.78.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last released its earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.67). The company had revenue of $656.54 million for 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 firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.64) EPS. Sell-side analysts forecast that Radius Recycling will post -3.84 EPS for the current year.

Radius Recycling Dividend Announcement

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

Institutional Trading of Radius Recycling

Several large investors have recently bought and sold shares of RDUS. Wellington Management Group LLP boosted its holdings in shares of Radius Recycling by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 88,129 shares of the basic materials company's stock worth $1,341,000 after purchasing an additional 760 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Radius Recycling by 4.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,480 shares of the basic materials company's stock valued at $1,012,000 after purchasing an additional 3,090 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Radius Recycling during the fourth quarter worth approximately $478,000. Systematic Financial Management LP lifted its position in Radius Recycling by 9.2% during the fourth quarter. Systematic Financial Management LP now owns 689,315 shares of the basic materials company's stock worth $10,491,000 after buying an additional 58,353 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Radius Recycling by 302.1% during the fourth quarter. Point72 Asset Management L.P. now owns 18,900 shares of the basic materials company's stock worth $288,000 after buying an additional 14,200 shares during the last quarter. Hedge funds and other institutional investors own 78.11% of the company's stock.

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.