StockNews.com upgraded shares of Radius Recycling (NASDAQ:RDUS – Free Report) from a sell rating to a hold rating in a report issued on Wednesday.
Separately, Seaport Res Ptn raised Radius Recycling from a strong sell rating to a hold rating in a research report on Thursday, May 30th.
Get Our Latest Research Report on Radius Recycling
Radius Recycling Trading Up 8.2 %
Radius Recycling (NASDAQ:RDUS – Get Free Report) last posted its quarterly earnings data on Tuesday, July 2nd. The basic materials company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.07. Radius Recycling had a negative return on equity of 1.73% and a negative net margin of 2.28%. The business had revenue of $673.92 million for the quarter, compared to analysts’ expectations of $693.90 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s revenue was down 16.8% on a year-over-year basis. On average, sell-side analysts anticipate that Radius Recycling will post -3.32 earnings per share for the current fiscal year.
Radius Recycling Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 22nd will be given a dividend of $0.1875 per share. The ex-dividend date is Monday, July 22nd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.72%. Radius Recycling’s dividend payout ratio is presently -32.89%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in RDUS. Millburn Ridgefield Corp purchased a new position in shares of Radius Recycling during the 1st quarter valued at $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Radius Recycling during the 1st quarter valued at $51,000. Ameritas Investment Partners Inc. purchased a new position in shares of Radius Recycling during the 1st quarter valued at $54,000. Shell Asset Management Co. purchased a new position in shares of Radius Recycling during the 1st quarter valued at $81,000. Finally, CANADA LIFE ASSURANCE Co purchased a new position in shares of Radius Recycling during the 1st quarter valued at $159,000. Hedge funds and other institutional investors own 78.11% of the company’s stock.
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.
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