Radius Recycling (NASDAQ:RDUS) Coverage Initiated at StockNews.com

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

Radius Recycling Stock Up 0.8 %

Shares of Radius Recycling stock opened at $29.12 on Wednesday. The business has a 50-day moving average price of $17.41 and a 200 day moving average price of $17.18. Radius Recycling has a fifty-two week low of $10.57 and a fifty-two week high of $29.18. The firm has a market cap of $819.87 million, a P/E ratio of -2.91 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.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The firm had revenue of $656.54 million during the quarter, compared to the consensus estimate of $665.90 million. During the same quarter last year, the firm posted ($0.64) earnings per share. Radius Recycling’s revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that Radius Recycling will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Monday, February 3rd. Radius Recycling’s dividend payout ratio is presently -7.49%.

Hedge Funds Weigh In On Radius Recycling

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its position in shares of Radius Recycling by 17.8% during 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 during the period. KLP Kapitalforvaltning AS bought a new stake in Radius Recycling in the fourth quarter valued at $4,199,000. FMR LLC boosted its holdings in shares of Radius Recycling by 23.7% during the third quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock valued at $17,638,000 after acquiring an additional 182,435 shares during the period. Icon Advisers Inc. Co. grew its position in shares of 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 worth $4,338,000 after acquiring an additional 153,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Radius Recycling by 447.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 157,929 shares of the basic materials company’s stock worth $2,404,000 after acquiring an additional 129,086 shares during the period. 78.11% of the stock is currently owned by institutional investors and hedge funds.

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.