Russell Investments Group Ltd. Sells 23,319 Shares of Radius Recycling, Inc. (NASDAQ:RDUS)

Russell Investments Group Ltd. lowered its stake in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 12.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 164,114 shares of the basic materials company’s stock after selling 23,319 shares during the quarter. Russell Investments Group Ltd.’s holdings in Radius Recycling were worth $2,498,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RDUS. KLP Kapitalforvaltning AS purchased a new stake in shares of Radius Recycling during the 4th quarter worth approximately $4,199,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Radius Recycling in the fourth quarter valued at $1,964,000. Proficio Capital Partners LLC purchased a new position in shares of Radius Recycling during the 4th quarter valued at $1,342,000. JPMorgan Chase & Co. grew its stake in shares of Radius Recycling by 92.5% during the 4th quarter. JPMorgan Chase & Co. now owns 159,621 shares of the basic materials company’s stock worth $2,429,000 after acquiring an additional 76,702 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Radius Recycling by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company’s stock worth $11,936,000 after acquiring an additional 36,618 shares during the last quarter. Hedge funds and other institutional investors own 78.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Radius Recycling in a research report on Friday. They set a “sell” rating for the company.

Radius Recycling Stock Performance

Shares of NASDAQ:RDUS opened at $29.11 on Friday. Radius Recycling, Inc. has a 12 month low of $10.57 and a 12 month high of $29.20. The company has a market cap of $820.96 million, a price-to-earnings ratio of -2.91 and a beta of 1.07. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average price of $21.73 and a 200-day moving average price of $18.19.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.09. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The company had revenue of $642.51 million during the quarter, compared to the consensus estimate of $635.94 million. As a group, equities analysts anticipate that Radius Recycling, Inc. will post -3.84 EPS for the current year.

Radius Recycling Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 21st will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Monday, April 21st. Radius Recycling’s dividend payout ratio (DPR) is -7.52%.

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.