Radius Recycling (NASDAQ:RDUS) Upgraded by StockNews.com to Hold

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

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

Radius Recycling Trading Up 8.2 %

Shares of NASDAQ RDUS opened at $15.88 on Wednesday. The business’s 50 day moving average is $16.81 and its two-hundred day moving average is $21.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 0.92. Radius Recycling has a 1-year low of $12.69 and a 1-year high of $36.64. The stock has a market capitalization of $444.35 million, a P/E ratio of -6.96 and a beta of 1.56.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data on Tuesday, July 2nd. The basic materials company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.07. Radius Recycling had a negative return on equity of 1.73% and a negative net margin of 2.28%. The company had revenue of $673.92 million for the quarter, compared to analysts’ expectations of $693.90 million. During the same period in the previous year, the firm posted $0.67 earnings per share. The firm’s revenue for the quarter was down 16.8% on a year-over-year basis. As a group, research analysts expect that Radius Recycling will post -3.32 EPS for the current year.

Radius Recycling Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 22nd will be paid a dividend of $0.1875 per share. The ex-dividend date is Monday, July 22nd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.72%. Radius Recycling’s dividend payout ratio is -32.89%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC purchased a new stake in shares of Radius Recycling in the fourth quarter valued at approximately $4,488,000. Green Alpha Advisors LLC purchased a new stake in shares of Radius Recycling in the first quarter valued at approximately $967,000. Unison Advisors LLC purchased a new stake in shares of Radius Recycling in the first quarter valued at approximately $226,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Radius Recycling in the first quarter valued at approximately $367,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Radius Recycling in the first quarter valued at approximately $33,000. 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.