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

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

Separately, The Goldman Sachs Group started coverage on Radius Recycling in a report on Monday. They set a “neutral” rating and a $22.00 price objective for the company.

Radius Recycling Stock Up 3.9 %

RDUS stock opened at $20.60 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.92 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $577.62 million, a PE ratio of -2.20 and a beta of 1.59. Radius Recycling has a twelve month low of $12.69 and a twelve month high of $31.70. The stock has a 50-day simple moving average of $18.38 and a two-hundred day simple moving average of $16.78.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) EPS for the quarter, topping 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 company had revenue of $771.00 million during the quarter, compared to analyst estimates of $680.80 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Radius Recycling’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts predict that Radius Recycling will post -1.02 EPS for the current fiscal year.

Radius Recycling Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.1875 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.75 dividend on an annualized basis and a yield of 3.64%. Radius Recycling’s payout ratio is -8.01%.

Insider Buying and Selling

In related news, SVP Steven Heiskell sold 17,675 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total value of $301,889.00. Following the completion of the sale, the senior vice president now owns 133,780 shares in the company, valued at $2,284,962.40. The trade was a 11.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Radius Recycling

A number of hedge funds have recently bought and sold shares of RDUS. Vanguard Group Inc. lifted its position in Radius Recycling by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,622,968 shares of the basic materials company’s stock worth $55,423,000 after buying an additional 23,199 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Radius Recycling in the first quarter valued at approximately $251,000. Janus Henderson Group PLC bought a new stake in Radius Recycling in the first quarter valued at approximately $242,000. California State Teachers Retirement System bought a new stake in Radius Recycling in the first quarter valued at approximately $555,000. Finally, Boston Partners bought a new stake in Radius Recycling in the first quarter valued at approximately $279,000. 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.