Algert Global LLC Buys New Shares in Radius Recycling, Inc. (NASDAQ:RDUS)

Algert Global LLC bought a new stake in Radius Recycling, Inc. (NASDAQ:RDUS) in the 3rd quarter, Holdings Channel reports. The firm bought 49,714 shares of the basic materials company’s stock, valued at approximately $922,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise raised its stake in Radius Recycling by 23.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock valued at $45,000 after acquiring an additional 564 shares during the period. Founders Capital Management raised its stake in Radius Recycling by 50.0% in the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 600 shares during the period. Green Alpha Advisors LLC raised its stake in Radius Recycling by 2.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 44,228 shares of the basic materials company’s stock valued at $820,000 after acquiring an additional 925 shares during the period. The Manufacturers Life Insurance Company raised its stake in Radius Recycling by 10.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,589 shares of the basic materials company’s stock valued at $162,000 after acquiring an additional 1,020 shares during the period. Finally, Gladius Capital Management LP bought a new stake in Radius Recycling in the 2nd quarter valued at $29,000. 78.11% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Steven Heiskell sold 17,675 shares of Radius Recycling stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total transaction of $301,889.00. Following the sale, the senior vice president now directly owns 133,780 shares of the company’s stock, valued at approximately $2,284,962.40. This trade represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.70% of the company’s stock.

Radius Recycling Stock Performance

NASDAQ:RDUS opened at $19.82 on Friday. The stock’s 50-day simple moving average is $18.20 and its 200 day simple moving average is $16.77. The firm has a market capitalization of $555.73 million, a PE ratio of -2.12 and a beta of 1.55. The company has a quick ratio of 1.00, a current ratio of 1.92 and a debt-to-equity ratio of 0.65. Radius Recycling, Inc. has a twelve month low of $12.69 and a twelve month high of $31.70.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.18. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The business had revenue of $771.00 million for the quarter, compared to analyst estimates of $680.80 million. During the same period last year, the firm posted $0.47 earnings per share. Radius Recycling’s revenue was up 7.4% compared to the same quarter last year. On average, analysts anticipate that Radius Recycling, Inc. will post -1.02 EPS for the current fiscal year.

Radius Recycling Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Tuesday, November 12th. Radius Recycling’s payout ratio is -8.01%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Radius Recycling from a “hold” rating to a “sell” rating in a research report on Tuesday.

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.