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

StockNews.com assumed 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 Trading Up 0.8 %

Shares of RDUS stock opened at $29.12 on Wednesday. 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 has a fifty-two week low of $10.57 and a fifty-two week high of $29.18. The firm’s 50 day moving average price is $17.41 and its two-hundred day moving average price is $17.18. The stock has a market cap of $819.87 million, a price-to-earnings ratio of -2.91 and a beta of 1.67.

Radius Recycling (NASDAQ:RDUS) last announced 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 return on equity of 14.16% and a negative net margin of 10.49%. The business had revenue of $656.54 million for the quarter, compared to analysts’ expectations of $665.90 million. During the same period last year, the company posted ($0.64) earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts anticipate that Radius Recycling will post -3.84 EPS for the current year.

Radius Recycling Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.58%. The ex-dividend date was Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is -7.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RDUS. Ameriprise Financial Inc. lifted its holdings in Radius Recycling by 17.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company’s stock worth $38,039,000 after buying an additional 377,212 shares in the last quarter. FMR LLC lifted its stake in shares of Radius Recycling by 23.7% in 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 boosted its holdings in 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 during the last quarter. Geode Capital Management LLC grew its stake in Radius Recycling by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company’s stock valued at $11,936,000 after purchasing an additional 36,618 shares in the last quarter. Finally, Icon Advisers Inc. Co. increased 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 worth $4,338,000 after purchasing an additional 153,000 shares during the last quarter. 78.11% of the stock is currently owned by hedge funds and other 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.