Radius Recycling (NASDAQ:RDUS) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Radius Recycling (NASDAQ:RDUS) from a hold rating to a sell rating in a research note released on Monday.

Radius Recycling Price Performance

Shares of NASDAQ RDUS opened at $16.19 on Monday. The stock’s 50-day simple moving average is $16.79 and its 200-day simple moving average is $16.65. The firm has a market capitalization of $453.95 million, a PE ratio of -1.73 and a beta of 1.53. 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 quick ratio of 1.00 and a current ratio of 1.92.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $680.80 million. During the same quarter last year, the company earned $0.47 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts forecast that Radius Recycling will post -1.02 EPS for the current fiscal year.

Radius Recycling Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.75 annualized dividend and a yield of 4.63%. Radius Recycling’s dividend payout ratio is presently -8.01%.

Insider Transactions at Radius Recycling

In related news, SVP Steven Heiskell sold 17,675 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total value of $301,889.00. Following the completion of 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Radius Recycling

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ballentine Partners LLC purchased a new position in shares of Radius Recycling during the third quarter worth approximately $363,000. E. Ohman J or Asset Management AB boosted its stake in Radius Recycling by 8.6% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 75,950 shares of the basic materials company’s stock worth $1,408,000 after purchasing an additional 6,000 shares during the period. Signaturefd LLC grew its position in Radius Recycling by 403.9% during the 3rd quarter. Signaturefd LLC now owns 4,092 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 3,280 shares during the last quarter. Creative Planning increased its stake in Radius Recycling by 70.5% in the third quarter. Creative Planning now owns 38,413 shares of the basic materials company’s stock valued at $712,000 after purchasing an additional 15,886 shares during the period. Finally, Green Alpha Advisors LLC increased its stake in Radius Recycling by 2.1% in the third quarter. Green Alpha Advisors LLC now owns 44,228 shares of the basic materials company’s stock valued at $820,000 after purchasing an additional 925 shares during the period. Hedge funds and other institutional investors own 78.11% of the company’s stock.

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.