Radius Recycling (NASDAQ:RDUS) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Radius Recycling (NASDAQ:RDUS - Free Report) in a research note issued to investors on Thursday. The firm issued a sell rating on the basic materials company's stock.

Radius Recycling Price Performance

Shares of RDUS stock traded up $0.11 during trading hours on Thursday, hitting $29.17. 134,322 shares of the company's stock were exchanged, compared to its average volume of 371,132. The company has a market capitalization of $821.28 million, a PE ratio of -2.91 and a beta of 1.07. The business's 50 day simple moving average is $20.74 and its 200-day simple moving average is $17.96. Radius Recycling has a 12-month low of $10.57 and a 12-month high of $29.20. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last announced its quarterly earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.08) by $0.09. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The business had revenue of $642.51 million during the quarter, compared to analysts' expectations of $635.94 million. On average, equities research analysts anticipate that Radius Recycling will post -3.84 earnings per share for the current year.

Radius Recycling Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 21st will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $0.75 annualized dividend and a yield of 2.57%. Radius Recycling's dividend payout ratio (DPR) is presently -7.52%.

Institutional Investors Weigh In On Radius Recycling

Several hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of Radius Recycling by 17.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company's stock worth $38,039,000 after purchasing an additional 377,212 shares in the last quarter. Systematic Financial Management LP lifted its stake in Radius Recycling by 9.2% during the 4th quarter. Systematic Financial Management LP now owns 689,315 shares of the basic materials company's stock valued at $10,491,000 after acquiring an additional 58,353 shares during the period. Geode Capital Management LLC boosted its holdings in Radius Recycling by 6.0% in the third quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company's stock worth $11,936,000 after purchasing an additional 36,618 shares during the last quarter. Icon Advisers Inc. Co. increased its position in Radius Recycling by 115.9% during the fourth quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company's stock valued at $4,338,000 after acquiring an additional 153,000 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Radius Recycling in the 4th quarter worth approximately $4,199,000. 78.11% of the stock is currently owned by institutional investors.

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.