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

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

Separately, The Goldman Sachs Group started coverage on shares of Radius Recycling in a research note on Monday, December 2nd. They issued a “neutral” rating and a $22.00 target price for the company.

Radius Recycling Trading Down 0.1 %

NASDAQ RDUS opened at $29.08 on Tuesday. Radius Recycling has a one year low of $10.57 and a one year high of $29.18. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97. The business has a 50 day simple moving average of $16.13 and a 200 day simple moving average of $16.78. The stock has a market capitalization of $818.75 million, a P/E ratio of -2.90 and a beta of 1.67.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share (EPS) 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 business had revenue of $656.54 million for the quarter, compared to analyst estimates of $665.90 million. During the same quarter in the prior year, the business earned ($0.64) earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts expect that Radius Recycling will post -3.84 earnings per share for the current year.

Radius Recycling Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is currently -7.49%.

Hedge Funds Weigh In On Radius Recycling

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its position in Radius Recycling by 17.8% during the fourth 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. FMR LLC lifted its position 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 worth $17,638,000 after acquiring an additional 182,435 shares in the last quarter. Systematic Financial Management LP grew its position in shares of Radius Recycling by 9.2% in the fourth quarter. Systematic Financial Management LP now owns 689,315 shares of the basic materials company’s stock valued at $10,491,000 after purchasing an additional 58,353 shares in the last quarter. Geode Capital Management LLC boosted its stake in Radius Recycling by 6.0% in the 3rd 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 period. Finally, Icon Advisers Inc. Co. grew its holdings in Radius Recycling by 115.9% during the 4th 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 in the last quarter. 78.11% of the stock is owned by institutional investors.

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.