Radius Recycling (NASDAQ:RDUS) Now Covered by StockNews.com

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

Radius Recycling Trading Down 0.4 %

NASDAQ RDUS opened at $28.99 on Thursday. Radius Recycling has a 52-week low of $10.57 and a 52-week high of $29.20. The firm has a 50-day moving average price of $20.06 and a 200 day moving average price of $17.82. The stock has a market capitalization of $816.21 million, a P/E ratio of -2.89 and a beta of 1.07. 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 posted its quarterly earnings results on Friday, April 4th. The basic materials company reported ($0.99) EPS for the quarter, beating the consensus estimate of ($1.08) by $0.09. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The business had revenue of $642.51 million during the quarter, compared to analysts’ expectations of $635.94 million. Equities research analysts expect that Radius Recycling will post -3.84 EPS for the current year.

Radius Recycling Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 21st will be issued a $0.1875 dividend. The ex-dividend date is Monday, April 21st. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.59%. Radius Recycling’s dividend payout ratio is presently -7.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDUS. Public Employees Retirement System of Ohio raised its stake in shares of Radius Recycling by 1.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 33,186 shares of the basic materials company’s stock worth $615,000 after buying an additional 610 shares during the last quarter. Wellington Management Group LLP raised its position in Radius Recycling by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 88,129 shares of the basic materials company’s stock worth $1,341,000 after acquiring an additional 760 shares during the last quarter. Invesco Ltd. raised its position in Radius Recycling by 1.3% during the fourth quarter. Invesco Ltd. now owns 110,932 shares of the basic materials company’s stock worth $1,688,000 after acquiring an additional 1,473 shares during the last quarter. Quarry LP purchased a new stake in shares of Radius Recycling in the third quarter valued at about $32,000. Finally, Inceptionr LLC grew its position in shares of Radius Recycling by 11.2% in the fourth quarter. Inceptionr LLC now owns 18,645 shares of the basic materials company’s stock valued at $284,000 after purchasing an additional 1,883 shares during the last quarter. 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.