Radius Recycling (NASDAQ:RDUS) Shares Gap Up to $17.43

Radius Recycling, Inc. (NASDAQ:RDUS)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $17.43, but opened at $17.78. Radius Recycling shares last traded at $17.98, with a volume of 32,811 shares changing hands.

Wall Street Analysts Forecast Growth

RDUS has been the subject of a number of analyst reports. Seaport Res Ptn lowered shares of Radius Recycling from a “neutral” rating to a “sell” rating in a research report on Wednesday, February 28th. StockNews.com lowered shares of Radius Recycling from a “hold” rating to a “sell” rating in a research report on Friday, April 5th.

Radius Recycling Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 0.92. The firm’s 50-day moving average is $20.68 and its 200 day moving average is $24.46. The stock has a market cap of $519.59 million, a price-to-earnings ratio of -8.12 and a beta of 1.60.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Thursday, April 4th. The basic materials company reported ($1.04) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.05. Radius Recycling had a negative net margin of 2.28% and a negative return on equity of 1.73%. The firm had revenue of $621.06 million during the quarter, compared to analyst estimates of $626.35 million. During the same quarter in the prior year, the business posted $0.14 earnings per share. Radius Recycling’s revenue for the quarter was down 17.8% compared to the same quarter last year. Sell-side analysts anticipate that Radius Recycling, Inc. will post -3.53 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $0.75 annualized dividend and a yield of 4.04%. Radius Recycling’s dividend payout ratio is currently -32.89%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Radius Recycling by 19.5% during the first quarter. BlackRock Inc. now owns 3,216,557 shares of the basic materials company’s stock worth $100,035,000 after purchasing an additional 524,126 shares during the period. Vanguard Group Inc. increased its holdings in shares of Radius Recycling by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,722,756 shares of the basic materials company’s stock worth $77,489,000 after acquiring an additional 43,304 shares during the period. Dimensional Fund Advisors LP increased its stake in Radius Recycling by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,283,655 shares of the basic materials company’s stock valued at $71,021,000 after buying an additional 82,346 shares during the period. Ameriprise Financial Inc. increased its stake in Radius Recycling by 18.0% during the 1st quarter. Ameriprise Financial Inc. now owns 1,545,045 shares of the basic materials company’s stock valued at $48,051,000 after buying an additional 235,600 shares during the period. Finally, State Street Corp increased its stake in Radius Recycling by 36.2% during the 1st quarter. State Street Corp now owns 1,521,234 shares of the basic materials company’s stock valued at $79,013,000 after buying an additional 404,669 shares during the period. 78.11% of the stock is currently owned by hedge funds and other institutional investors.

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.