Bank of New York Mellon Corp Sells 257,941 Shares of Radius Recycling, Inc. (NASDAQ:RDUS)

Bank of New York Mellon Corp reduced its position in Radius Recycling, Inc. (NASDAQ:RDUS) by 48.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 269,691 shares of the basic materials company’s stock after selling 257,941 shares during the quarter. Bank of New York Mellon Corp’s holdings in Radius Recycling were worth $4,105,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its holdings in shares of Radius Recycling by 1.9% during the third quarter. Public Employees Retirement System of Ohio now owns 33,186 shares of the basic materials company’s stock worth $615,000 after purchasing an additional 610 shares in the last quarter. Quarry LP purchased a new position in Radius Recycling in the 3rd quarter worth approximately $32,000. Point72 DIFC Ltd purchased a new position in Radius Recycling in the 3rd quarter worth approximately $46,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Radius Recycling by 172.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock worth $99,000 after buying an additional 3,394 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Radius Recycling by 7.0% during the 3rd quarter. Victory Capital Management Inc. now owns 52,200 shares of the basic materials company’s stock valued at $968,000 after buying an additional 3,400 shares in the last quarter. Hedge funds and other institutional investors own 78.11% of the company’s stock.

Radius Recycling Trading Up 0.6 %

RDUS stock opened at $28.98 on Wednesday. The company has a market capitalization of $815.93 million, a PE ratio of -2.89 and a beta of 1.67. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02. Radius Recycling, Inc. has a one year low of $10.57 and a one year high of $29.10. The company’s 50 day moving average price is $13.67 and its two-hundred day moving average price is $16.10.

Radius Recycling (NASDAQ:RDUS) last issued its earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). The business had revenue of $656.54 million during the quarter, compared to analysts’ expectations of $665.90 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. Radius Recycling’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.64) EPS. As a group, analysts predict that Radius Recycling, Inc. will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is presently -7.49%.

Analyst Upgrades and Downgrades

RDUS has been the subject of several research reports. The Goldman Sachs Group began coverage on shares of Radius Recycling in a research report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 target price for the company. StockNews.com cut Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th.

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.