Radius Recycling (NASDAQ:RDUS) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Radius Recycling (NASDAQ:RDUS) in a research note issued to investors on Tuesday. The brokerage issued a sell rating on the basic materials company’s stock.

Separately, The Goldman Sachs Group began coverage on Radius Recycling in a research report on Monday, December 2nd. They set a “neutral” rating and a $22.00 price target for the company.

Radius Recycling Price Performance

Shares of NASDAQ:RDUS opened at $29.08 on Tuesday. The company’s fifty day moving average is $16.13 and its 200 day moving average is $16.78. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75. Radius Recycling has a 52 week low of $10.57 and a 52 week high of $29.18. The stock has a market cap of $818.75 million, a PE ratio of -2.90 and a beta of 1.67.

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

Radius Recycling Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.1875 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.58%. Radius Recycling’s dividend payout ratio (DPR) is -7.49%.

Institutional Investors Weigh In On Radius Recycling

Hedge funds have recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in shares of Radius Recycling during the 4th quarter valued at $1,342,000. E. Ohman J or Asset Management AB boosted its position in shares of Radius Recycling by 29.9% in the 4th quarter. E. Ohman J or Asset Management AB now owns 98,650 shares of the basic materials company’s stock worth $1,501,000 after purchasing an additional 22,700 shares in the last quarter. JPMorgan Chase & Co. increased its position in Radius Recycling by 67.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company’s stock valued at $1,537,000 after buying an additional 33,298 shares in the last quarter. Jane Street Group LLC boosted its holdings in Radius Recycling by 62.9% in the third quarter. Jane Street Group LLC now owns 90,813 shares of the basic materials company’s stock worth $1,684,000 after acquiring an additional 35,073 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Radius Recycling by 156.2% during the third quarter. Barclays PLC now owns 58,337 shares of the basic materials company’s stock valued at $1,081,000 after acquiring an additional 35,568 shares in the last quarter. 78.11% of the stock is currently owned by 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.