StockNews.com Downgrades Radius Recycling (NASDAQ:RDUS) to Sell

StockNews.com cut shares of Radius Recycling (NASDAQ:RDUS) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Separately, Seaport Res Ptn downgraded shares of Radius Recycling from a neutral rating to a sell rating in a report on Wednesday, February 28th.

Radius Recycling Stock Up 1.8 %

Shares of NASDAQ RDUS opened at $17.86 on Thursday. Radius Recycling has a 1 year low of $16.84 and a 1 year high of $36.64. The company has a quick ratio of 0.92, a current ratio of 1.96 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $19.24 and a two-hundred day moving average price of $23.72.

Radius Recycling (NASDAQ:RDUS) last released its earnings results on Thursday, April 4th. The basic materials company reported ($1.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.05. Radius Recycling had a negative return on equity of 1.73% and a negative net margin of 2.28%. The firm had revenue of $621.06 million for the quarter, compared to analyst estimates of $626.35 million. During the same period in the previous year, the company earned $0.14 earnings per share. Radius Recycling’s revenue was down 17.8% compared to the same quarter last year. As a group, equities analysts forecast that Radius Recycling will post -3.53 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 22nd will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Friday, April 19th. Radius Recycling’s dividend payout ratio (DPR) is presently -32.89%.

Hedge Funds Weigh In On Radius Recycling

A number of hedge funds and other institutional investors have recently modified their holdings of RDUS. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Radius Recycling in the first quarter worth about $51,000. Nordea Investment Management AB purchased a new stake in shares of Radius Recycling in the 1st quarter valued at approximately $3,959,000. BNP Paribas Financial Markets acquired a new position in Radius Recycling in the 1st quarter worth approximately $649,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Radius Recycling during the 1st quarter worth approximately $236,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Radius Recycling during the 1st quarter valued at $367,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

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.