Dimensional Fund Advisors LP Cuts Holdings in Radius Recycling, Inc. (NASDAQ:RDUS)

Dimensional Fund Advisors LP lessened its holdings in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 9.5% during the second quarter, HoldingsChannel reports. The fund owned 1,989,666 shares of the basic materials company’s stock after selling 208,479 shares during the period. Dimensional Fund Advisors LP owned about 0.07% of Radius Recycling worth $30,381,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Fisher Asset Management LLC purchased a new position in Radius Recycling in the fourth quarter valued at about $4,488,000. Green Alpha Advisors LLC purchased a new position in Radius Recycling in the 1st quarter valued at approximately $967,000. Unison Advisors LLC acquired a new position in Radius Recycling during the first quarter worth $226,000. Allspring Global Investments Holdings LLC purchased a new stake in Radius Recycling during the first quarter worth $367,000. Finally, Millburn Ridgefield Corp purchased a new stake in Radius Recycling during the first quarter worth $33,000. 78.11% of the stock is currently owned by hedge funds and other institutional investors.

Radius Recycling Stock Performance

Shares of RDUS opened at $18.48 on Wednesday. Radius Recycling, Inc. has a 12-month low of $12.69 and a 12-month high of $31.70. The stock has a market cap of $518.18 million, a P/E ratio of -1.90 and a beta of 1.52. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $15.89 and a two-hundred day moving average of $16.90.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data on Tuesday, July 2nd. The basic materials company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.07. The firm had revenue of $673.92 million during the quarter, compared to the consensus estimate of $693.90 million. Radius Recycling had a negative return on equity of 5.89% and a negative net margin of 10.28%. The company’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. As a group, research analysts predict that Radius Recycling, Inc. will post -3.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Radius Recycling from a “sell” rating to a “hold” rating in a research report on Friday, September 27th.

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.