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 report published on Friday morning.

Radius Recycling Stock Performance

Shares of NASDAQ RDUS traded up $0.10 during trading hours on Friday, reaching $19.92. The stock had a trading volume of 201,920 shares, compared to its average volume of 222,154. The company has a market cap of $558.54 million, a price-to-earnings ratio of -2.13 and a beta of 1.55. Radius Recycling has a twelve month low of $12.69 and a twelve month high of $31.70. The business’s fifty day moving average is $17.21 and its two-hundred day moving average is $16.66. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.00.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings data 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. The company had revenue of $771.00 million during the quarter, compared to the consensus estimate of $680.80 million. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. As a group, research analysts expect that Radius Recycling will post -1.02 EPS for the current year.

Radius Recycling Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, November 12th. Radius Recycling’s dividend payout ratio is -8.01%.

Insiders Place Their Bets

In other news, SVP Steven Heiskell sold 17,675 shares of the business’s 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 in the company, valued at approximately $2,284,962.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Gladius Capital Management LP bought a new stake in shares of Radius Recycling during the second quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Radius Recycling during the 2nd quarter worth about $30,000. Founders Capital Management increased its position in Radius Recycling by 50.0% in the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 600 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in shares of Radius Recycling by 23.6% in the second quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 564 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Radius Recycling during the first quarter valued at approximately $51,000. 78.11% of the stock is owned by institutional investors and hedge funds.

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.