Radius Recycling (NASDAQ:RDUS) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

Shares of Radius Recycling, Inc. (NASDAQ:RDUS) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $13.39 and traded as low as $13.00. Radius Recycling shares last traded at $13.22, with a volume of 261,020 shares traded.

Analyst Ratings Changes

Several research firms have issued reports on RDUS. The Goldman Sachs Group began coverage on Radius Recycling in a report on Monday, December 2nd. They set a “neutral” rating and a $22.00 price objective on the stock. StockNews.com lowered Radius Recycling from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th.

Radius Recycling Stock Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02. The company has a market cap of $372.21 million, a price-to-earnings ratio of -1.32 and a beta of 1.60. The firm’s 50-day moving average price is $13.39 and its 200 day moving average price is $15.91.

Radius Recycling (NASDAQ:RDUS) last announced its quarterly earnings data on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). The business had revenue of $656.54 million during the quarter, compared to the consensus estimate of $665.90 million. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. Radius Recycling’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.64) earnings per share. On average, sell-side analysts anticipate that Radius Recycling, Inc. will post -3.84 EPS for the current year.

Radius Recycling Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.1875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $0.75 dividend on an annualized basis and a yield of 5.67%. Radius Recycling’s dividend payout ratio is presently -7.49%.

Hedge Funds Weigh In On Radius Recycling

Several hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its stake in shares of Radius Recycling by 17.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company’s stock valued at $38,039,000 after acquiring an additional 377,212 shares during the last quarter. FMR LLC boosted its stake in Radius Recycling by 23.7% during the 3rd quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock worth $17,638,000 after acquiring an additional 182,435 shares during the last quarter. Systematic Financial Management LP grew its holdings in Radius Recycling by 9.2% during the fourth quarter. Systematic Financial Management LP now owns 689,315 shares of the basic materials company’s stock valued at $10,491,000 after purchasing an additional 58,353 shares during the period. Geode Capital Management LLC increased its stake in Radius Recycling by 6.0% in the third quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company’s stock valued at $11,936,000 after purchasing an additional 36,618 shares in the last quarter. Finally, Icon Advisers Inc. Co. raised its holdings in Radius Recycling by 115.9% in the fourth quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company’s stock worth $4,338,000 after purchasing an additional 153,000 shares during the period. Institutional investors and hedge funds 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.