Radius Recycling (NASDAQ:RDUS) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Radius Recycling (NASDAQ:RDUS) in a research note published on Monday, Marketbeat.com reports. The firm issued a neutral rating and a $22.00 price target on the basic materials company’s stock.

Separately, StockNews.com downgraded shares of Radius Recycling from a “hold” rating to a “sell” rating in a research note on Tuesday, November 26th.

Radius Recycling Price Performance

RDUS opened at $20.60 on Monday. 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 $31.70. The company has a 50 day moving average of $18.38 and a two-hundred day moving average of $16.78. The company has a market cap of $577.62 million, a P/E ratio of -2.20 and a beta of 1.59.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.18. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The company had revenue of $771.00 million during the quarter, compared to the consensus estimate of $680.80 million. During the same period in the previous year, the firm earned $0.47 earnings per share. Radius Recycling’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts expect that Radius Recycling will post -1.02 earnings per share for the current year.

Radius Recycling Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.1875 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.75 annualized dividend and a dividend yield of 3.64%. Radius Recycling’s dividend payout ratio (DPR) is presently -8.01%.

Insider Activity

In related news, SVP Steven Heiskell sold 17,675 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total value of $301,889.00. Following the sale, the senior vice president now directly 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 legal filing with the SEC, which is accessible through this link. Insiders own 5.70% of the company’s stock.

Institutional Trading of Radius Recycling

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in Radius Recycling in the third quarter valued at $32,000. Founders Capital Management raised its holdings in Radius Recycling by 50.0% in the third quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 600 shares in the last quarter. Gladius Capital Management LP acquired a new stake in shares of Radius Recycling during the second quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Radius Recycling during the second quarter worth $30,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Radius Recycling during the third quarter worth $46,000. 78.11% of the stock is owned by institutional investors and hedge funds.

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.