220,848 Shares in Radius Recycling, Inc. (NASDAQ:RDUS) Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. purchased a new position in shares of Radius Recycling, Inc. (NASDAQ:RDUS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 220,848 shares of the basic materials company’s stock, valued at approximately $4,667,000. Jacobs Levy Equity Management Inc. owned 0.79% of Radius Recycling at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RDUS. Fisher Asset Management LLC bought a new stake in shares of Radius Recycling in the fourth quarter valued at $4,488,000. Green Alpha Advisors LLC bought a new stake in shares of Radius Recycling in the first quarter valued at $967,000. Unison Advisors LLC bought a new stake in shares of Radius Recycling in the first quarter valued at $226,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Radius Recycling in the first quarter valued at $367,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of Radius Recycling in the first quarter valued at $33,000. 78.11% of the stock is currently owned by institutional investors.

Radius Recycling Stock Performance

Shares of NASDAQ RDUS traded up $0.09 during mid-day trading on Wednesday, hitting $18.33. The company had a trading volume of 52,390 shares, compared to its average volume of 240,935. The company has a market capitalization of $513.97 million, a price-to-earnings ratio of -1.88 and a beta of 1.56. Radius Recycling, Inc. has a 1 year low of $12.69 and a 1 year high of $36.64. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average price is $16.27 and its 200-day moving average price is $19.42.

Radius Recycling (NASDAQ:RDUS) last posted its earnings results on Tuesday, July 2nd. The basic materials company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.07. Radius Recycling had a negative return on equity of 5.89% and a negative net margin of 10.28%. The business had revenue of $673.92 million during the quarter, compared to analysts’ expectations of $693.90 million. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s revenue was down 16.8% on a year-over-year basis. On average, sell-side analysts forecast that Radius Recycling, Inc. will post -3.06 earnings per share for the current year.

Radius Recycling Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 22nd will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 4.09%. The ex-dividend date is Monday, July 22nd. Radius Recycling’s dividend payout ratio (DPR) is currently -7.72%.

Wall Street Analyst Weigh In

Several analysts have issued reports on RDUS shares. StockNews.com lowered Radius Recycling from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th. Seaport Res Ptn upgraded Radius Recycling from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 30th.

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.