Radius Recycling (NASDAQ:RDUS) Stock Rating Lowered by StockNews.com

Radius Recycling (NASDAQ:RDUS) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Radius Recycling Stock Performance

RDUS traded down $1.12 on Tuesday, reaching $19.44. 132,134 shares of the stock were exchanged, compared to its average volume of 221,460. The company’s 50-day moving average price is $18.06 and its 200 day moving average price is $16.72. Radius Recycling has a fifty-two week low of $12.69 and a fifty-two week high of $31.70. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.00. The firm has a market capitalization of $545.08 million, a PE ratio of -2.08 and a beta of 1.55.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.18. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The company had revenue of $771.00 million during the quarter, compared to analysts’ expectations of $680.80 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Radius Recycling will post -1.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Steven Heiskell sold 17,675 shares of Radius Recycling 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 owns 133,780 shares of the company’s stock, valued at approximately $2,284,962.40. This trade represents a 11.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Radius Recycling

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB acquired a new position in shares of Radius Recycling during the 1st quarter worth about $1,437,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Radius Recycling in the first quarter valued at approximately $251,000. American Century Companies Inc. increased its position in shares of Radius Recycling by 2.9% during the second quarter. American Century Companies Inc. now owns 564,717 shares of the basic materials company’s stock worth $8,623,000 after purchasing an additional 16,162 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Radius Recycling in the 2nd quarter valued at $30,000. Finally, Boston Partners purchased a new position in Radius Recycling in the 1st quarter valued at $279,000. 78.11% of the stock is 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.