Radius Recycling (NASDAQ:RDUS) Lifted to “Hold” at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Radius Recycling (NASDAQ:RDUSFree Report) from a strong sell rating to a hold rating in a research note published on Thursday, Zacks.com reports.

Separately, StockNews.com downgraded shares of Radius Recycling from a hold rating to a sell rating in a report on Thursday, May 2nd.

Get Our Latest Report on RDUS

Radius Recycling Stock Down 0.2 %

RDUS stock opened at $17.11 on Thursday. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. Radius Recycling has a 1 year low of $16.57 and a 1 year high of $36.64. The company has a fifty day simple moving average of $18.55 and a 200 day simple moving average of $22.88. The firm has a market cap of $478.74 million, a PE ratio of -7.50 and a beta of 1.64.

Radius Recycling (NASDAQ:RDUSGet Free Report) last announced its earnings results on Thursday, April 4th. The basic materials company reported ($1.04) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.05. The firm had revenue of $621.06 million for the quarter, compared to the consensus estimate of $626.35 million. Radius Recycling had a negative net margin of 2.28% and a negative return on equity of 1.73%. The business’s quarterly revenue was down 17.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. Sell-side analysts anticipate that Radius Recycling will post -3.53 EPS for the current fiscal year.

Radius Recycling Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 22nd were issued a dividend of $0.1875 per share. The ex-dividend date was Friday, April 19th. This represents a $0.75 annualized dividend and a dividend yield of 4.38%. Radius Recycling’s payout ratio is -32.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Millburn Ridgefield Corp bought a new position in shares of Radius Recycling during the 1st quarter worth about $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Radius Recycling during the 1st quarter worth about $51,000. Ameritas Investment Partners Inc. bought a new position in shares of Radius Recycling during the 1st quarter worth about $54,000. Shell Asset Management Co. bought a new position in shares of Radius Recycling during the 1st quarter worth about $81,000. Finally, CANADA LIFE ASSURANCE Co bought a new stake in Radius Recycling in the first quarter valued at about $159,000. Institutional investors own 78.11% of the company’s stock.

About Radius Recycling

(Get Free Report)

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.

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