AlphaQuest LLC Lowers Holdings in Radius Recycling, Inc. (NASDAQ:RDUS)

AlphaQuest LLC decreased its stake in Radius Recycling, Inc. (NASDAQ:RDUS) by 88.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,515 shares of the basic materials company’s stock after selling 19,976 shares during the quarter. AlphaQuest LLC’s holdings in Radius Recycling were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of RDUS. FMR LLC boosted its stake in shares of Radius Recycling by 23.7% in the third quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock worth $17,638,000 after buying an additional 182,435 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Radius Recycling in the fourth quarter worth about $1,342,000. Algert Global LLC purchased a new stake in shares of Radius Recycling in the third quarter worth about $922,000. Systematic Financial Management LP boosted its position in Radius Recycling by 8.5% during the third quarter. Systematic Financial Management LP now owns 630,962 shares of the basic materials company’s stock worth $11,698,000 after purchasing an additional 49,450 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Radius Recycling by 6.0% during the third quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company’s stock worth $11,936,000 after purchasing an additional 36,618 shares in the last quarter. Hedge funds and other institutional investors own 78.11% of the company’s stock.

Radius Recycling Stock Performance

NASDAQ RDUS opened at $28.99 on Friday. The company has a market cap of $816.21 million, a PE ratio of -2.89 and a beta of 1.67. The stock’s 50 day simple moving average is $14.38 and its 200-day simple moving average is $16.28. Radius Recycling, Inc. has a 1-year low of $10.57 and a 1-year high of $29.16. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97.

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

Radius Recycling Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RDUS shares. StockNews.com downgraded Radius Recycling from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. The Goldman Sachs Group started coverage on Radius Recycling in a research report on Monday, December 2nd. They set a “neutral” rating and a $22.00 price target on the 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.