Radius Recycling (NASDAQ:RDUS) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Radius Recycling (NASDAQ:RDUS) from a sell rating to a hold rating in a research note published on Wednesday.

Separately, Seaport Res Ptn raised Radius Recycling from a strong sell rating to a hold rating in a research report on Thursday, May 30th.

Radius Recycling Stock Down 0.5 %

NASDAQ RDUS opened at $14.68 on Wednesday. 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 has a 50-day moving average of $15.62 and a 200 day moving average of $17.38. Radius Recycling has a one year low of $12.69 and a one year high of $31.70.

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

Radius Recycling Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 22nd were paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend was Monday, July 22nd. Radius Recycling’s dividend payout ratio (DPR) is presently -7.72%.

Institutional Trading of Radius Recycling

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDUS. Acadian Asset Management LLC bought a new stake in Radius Recycling during the 1st quarter valued at approximately $6,957,000. Jacobs Levy Equity Management Inc. bought a new stake in Radius Recycling in the 1st quarter worth approximately $4,667,000. Nordea Investment Management AB bought a new stake in Radius Recycling in the 1st quarter worth approximately $3,959,000. Russell Investments Group Ltd. bought a new stake in Radius Recycling in the 1st quarter worth approximately $3,884,000. Finally, Fisher Asset Management LLC bought a new stake in Radius Recycling in the 4th quarter worth approximately $4,488,000. Institutional investors own 78.11% of the company’s stock.

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.