Empowered Funds LLC Raises Holdings in Radius Recycling, Inc. (NASDAQ:RDUS)

Empowered Funds LLC increased its position in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 5.1% in the 4th quarter, Holdings Channel reports. The firm owned 133,356 shares of the basic materials company’s stock after purchasing an additional 6,472 shares during the period. Empowered Funds LLC’s holdings in Radius Recycling were worth $2,030,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. E. Ohman J or Asset Management AB increased its position in shares of Radius Recycling by 29.9% during the fourth quarter. E. Ohman J or Asset Management AB now owns 98,650 shares of the basic materials company’s stock worth $1,501,000 after purchasing an additional 22,700 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Radius Recycling during the fourth quarter worth approximately $140,000. Perpetual Ltd increased its position in shares of Radius Recycling by 9.2% during the fourth quarter. Perpetual Ltd now owns 131,905 shares of the basic materials company’s stock worth $2,008,000 after purchasing an additional 11,060 shares in the last quarter. Trium Capital LLP increased its position in shares of Radius Recycling by 41.8% during the fourth quarter. Trium Capital LLP now owns 13,320 shares of the basic materials company’s stock worth $203,000 after purchasing an additional 3,925 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Radius Recycling by 67.1% during the third quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company’s stock worth $1,537,000 after buying an additional 33,298 shares during the last quarter. 78.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on RDUS. StockNews.com lowered Radius Recycling from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. The Goldman Sachs Group began coverage on Radius Recycling in a research note on Monday, December 2nd. They set a “neutral” rating and a $22.00 price objective on the stock.

Radius Recycling Stock Performance

NASDAQ RDUS opened at $12.65 on Friday. Radius Recycling, Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $25.45. The stock’s fifty day moving average is $14.01 and its two-hundred day moving average is $16.02. The firm has a market capitalization of $356.22 million, a P/E ratio of -1.26 and a beta of 1.60. 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 (NASDAQ:RDUS) last announced its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.67). Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The business had revenue of $656.54 million during the quarter, compared to analyst estimates of $665.90 million. During the same period last year, the company earned ($0.64) EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, research analysts anticipate that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 5.93%. The ex-dividend date is Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is presently -7.49%.

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.