Radius Recycling (NASDAQ:RDUS) Announces Earnings Results

Radius Recycling (NASDAQ:RDUS) released its earnings results on Tuesday. The basic materials company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67), Zacks reports. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%.

Radius Recycling Stock Up 0.1 %

RDUS stock traded up $0.02 during midday trading on Tuesday, hitting $14.77. The company’s stock had a trading volume of 321,093 shares, compared to its average volume of 225,305. The firm has a 50-day simple moving average of $17.77 and a 200-day simple moving average of $16.79. The firm has a market capitalization of $414.14 million, a P/E ratio of -1.58 and a beta of 1.64. The company has a quick ratio of 1.00, a current ratio of 1.92 and a debt-to-equity ratio of 0.65. Radius Recycling has a 52-week low of $12.69 and a 52-week high of $28.20.

Radius Recycling Dividend Announcement

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 5.08%. The ex-dividend date was Tuesday, November 12th. Radius Recycling’s payout ratio is currently -8.01%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on Radius Recycling in a research note on Monday, December 2nd. They set a “neutral” rating and a $22.00 target price for the company. StockNews.com cut Radius Recycling from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th.

Insider Activity

In related news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total value of $301,889.00. Following the transaction, the senior vice president now owns 133,780 shares of the company’s stock, valued at $2,284,962.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.90% of the company’s stock.

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.