Barclays PLC Purchases 35,568 Shares of Radius Recycling, Inc. (NASDAQ:RDUS)

Barclays PLC raised its holdings in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 156.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,337 shares of the basic materials company’s stock after acquiring an additional 35,568 shares during the quarter. Barclays PLC’s holdings in Radius Recycling were worth $1,081,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Radius Recycling in the 2nd quarter valued at approximately $30,000. Quarry LP acquired a new stake in Radius Recycling in the third quarter valued at $32,000. Founders Capital Management grew its position in shares of 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. Point72 DIFC Ltd acquired a new position in shares of Radius Recycling during the 3rd quarter worth about $46,000. Finally, Signaturefd LLC raised its holdings in shares of Radius Recycling by 403.9% in the 3rd quarter. Signaturefd LLC now owns 4,092 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 3,280 shares during the period. 78.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com cut Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. The Goldman Sachs Group assumed coverage on Radius Recycling in a research note on Monday, December 2nd. They set a “neutral” rating and a $22.00 target price for the company.

Insiders Place Their Bets

In other news, SVP Steven Heiskell sold 17,675 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total transaction of $301,889.00. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.90% of the company’s stock.

Radius Recycling Stock Performance

NASDAQ RDUS opened at $11.35 on Wednesday. The stock has a market cap of $318.24 million, a PE ratio of -1.21 and a beta of 1.64. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92. The firm has a 50-day moving average of $17.29 and a 200-day moving average of $16.70. Radius Recycling, Inc. has a 52-week low of $10.57 and a 52-week high of $27.70.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The firm had revenue of $656.54 million for the quarter, compared to the consensus estimate of $665.90 million. During the same quarter in the prior year, the firm earned ($0.64) EPS. The company’s revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that Radius Recycling, Inc. will post -1.02 EPS for the current year.

Radius Recycling Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date is Monday, February 3rd. Radius Recycling’s dividend payout ratio is -7.49%.

Radius Recycling 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.