Radius Recycling (NASDAQ:RDUS) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Radius Recycling (NASDAQ:RDUS - Free Report) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Separately, The Goldman Sachs Group started coverage on shares of Radius Recycling in a report on Monday. They issued a "neutral" rating and a $22.00 price objective on the stock.

Radius Recycling Price Performance

Radius Recycling stock traded up $0.77 during mid-day trading on Wednesday, reaching $20.60. The company had a trading volume of 160,432 shares, compared to its average volume of 219,867. Radius Recycling has a 1 year low of $12.69 and a 1 year high of $31.70. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.00. The company has a market capitalization of $577.62 million, a P/E ratio of -2.12 and a beta of 1.59. The stock's 50-day simple moving average is $18.33 and its 200-day simple moving average is $16.75.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share for the quarter, topping analysts' consensus estimates of ($0.59) by $0.18. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The business had revenue of $771.00 million during the quarter, compared to analysts' expectations of $680.80 million. During the same period last year, the company posted $0.47 EPS. The company's revenue was up 7.4% on a year-over-year basis. On average, equities analysts predict that Radius Recycling will post -1.02 EPS for the current year.

Radius Recycling Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.75 annualized dividend and a yield of 3.64%. Radius Recycling's dividend payout ratio (DPR) is -8.01%.

Insider Buying and Selling

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of the company's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total value of $301,889.00. Following the completion of the transaction, the senior vice president now owns 133,780 shares in the company, valued at approximately $2,284,962.40. This represents a 11.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Radius Recycling in the 3rd quarter valued at approximately $32,000. Founders Capital Management grew its stake in Radius Recycling by 50.0% in the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company's stock valued at $33,000 after buying an additional 600 shares during the last quarter. Gladius Capital Management LP acquired a new position in Radius Recycling in the 2nd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Radius Recycling in the 2nd quarter valued at $30,000. Finally, Point72 DIFC Ltd acquired a new stake in Radius Recycling in the 3rd quarter worth $46,000. 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.