Dark Forest Capital Management LP Sells 39,725 Shares of Radius Recycling, Inc. (NASDAQ:RDUS)

Dark Forest Capital Management LP lowered its holdings in Radius Recycling, Inc. (NASDAQ:RDUS) by 64.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,488 shares of the basic materials company’s stock after selling 39,725 shares during the period. Dark Forest Capital Management LP’s holdings in Radius Recycling were worth $327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its stake in shares of Radius Recycling by 27.9% in the fourth quarter. Hsbc Holdings PLC now owns 39,729 shares of the basic materials company’s stock worth $601,000 after acquiring an additional 8,661 shares during the last quarter. PEAK6 LLC acquired a new stake in Radius Recycling in the 4th quarter worth $262,000. Jump Financial LLC bought a new position in shares of Radius Recycling during the 4th quarter worth about $410,000. Icon Advisers Inc. Co. raised 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 valued at $4,338,000 after buying an additional 153,000 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Radius Recycling by 15.7% in the fourth quarter. Barclays PLC now owns 67,523 shares of the basic materials company’s stock valued at $1,027,000 after buying an additional 9,186 shares during the period. 78.11% of the stock is owned by institutional investors.

Radius Recycling Stock Performance

Shares of NASDAQ RDUS opened at $29.24 on Monday. The firm has a market capitalization of $824.63 million, a price-to-earnings ratio of -2.92 and a beta of 1.07. Radius Recycling, Inc. has a one year low of $10.57 and a one year high of $29.29. The business has a fifty day simple moving average of $23.68 and a 200 day simple moving average of $18.63. 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) last announced its quarterly earnings data on Friday, April 4th. The basic materials company reported ($0.99) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $642.51 million during the quarter, compared to analysts’ expectations of $635.94 million. Sell-side analysts expect that Radius Recycling, Inc. will post -3.84 EPS for the current year.

Radius Recycling Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 21st will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Monday, April 21st. Radius Recycling’s dividend payout ratio is -7.52%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Radius Recycling in a research note on Saturday. They set a “sell” rating on the stock.

Radius Recycling 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.