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

Radius Recycling (NASDAQ:RDUS) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

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

Radius Recycling Price Performance

Radius Recycling stock traded down $0.16 during midday trading on Friday, hitting $19.05. 325,071 shares of the company’s stock were exchanged, compared to its average volume of 226,033. The company has a market cap of $534.16 million, a P/E ratio of -1.96 and a beta of 1.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 1.96. The stock has a 50-day moving average price of $15.87 and a two-hundred day moving average price of $16.94. Radius Recycling has a 52-week low of $12.69 and a 52-week high of $31.70.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Tuesday, July 2nd. The basic materials company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.07. Radius Recycling had a negative net margin of 10.28% and a negative return on equity of 5.89%. The firm had revenue of $673.92 million for the quarter, compared to analyst estimates of $693.90 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue for the quarter was down 16.8% compared to the same quarter last year. On average, equities research analysts forecast that Radius Recycling will post -3.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RDUS. Vanguard Group Inc. lifted its stake in Radius Recycling by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,622,968 shares of the basic materials company’s stock worth $55,423,000 after purchasing an additional 23,199 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Radius Recycling by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 564,717 shares of the basic materials company’s stock valued at $8,623,000 after acquiring an additional 16,162 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Radius Recycling by 4.7% during the 2nd quarter. Acadian Asset Management LLC now owns 345,134 shares of the basic materials company’s stock valued at $5,267,000 after acquiring an additional 15,644 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Radius Recycling during the 1st quarter worth approximately $4,667,000. Finally, Nordea Investment Management AB purchased a new position in Radius Recycling in the 1st quarter worth approximately $3,959,000. 78.11% of the stock is owned by hedge funds and other 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.