StockNews.com Initiates Coverage on Radius Recycling (NASDAQ:RDUS)

StockNews.com began coverage on shares of Radius Recycling (NASDAQ:RDUS) in a report released on Tuesday. The brokerage issued a sell rating on the basic materials company’s stock.

Separately, The Goldman Sachs Group assumed coverage on Radius Recycling in a report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 price target for the company.

Radius Recycling Trading Up 0.0 %

Shares of RDUS stock opened at $29.01 on Tuesday. The firm has a market capitalization of $816.78 million, a P/E ratio of -2.90 and a beta of 1.67. Radius Recycling has a 1 year low of $10.57 and a 1 year high of $29.16. The firm’s fifty day simple moving average is $15.44 and its 200 day simple moving average is $16.61. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75.

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

Radius Recycling Dividend Announcement

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

Hedge Funds Weigh In On Radius Recycling

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new stake in Radius Recycling in the third quarter valued at about $32,000. Point72 DIFC Ltd acquired a new stake in Radius Recycling during the third quarter valued at approximately $46,000. Aquatic Capital Management LLC bought a new stake in shares of Radius Recycling in the 4th quarter valued at approximately $68,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Radius Recycling by 172.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock worth $99,000 after buying an additional 3,394 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Radius Recycling during the 4th quarter worth approximately $140,000. 78.11% of the stock is owned by institutional investors.

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.