Fmr LLC Acquires 182,435 Shares of Radius Recycling, Inc. (NASDAQ:RDUS)

Fmr LLC boosted its holdings in Radius Recycling, Inc. (NASDAQ:RDUS) by 23.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 951,337 shares of the basic materials company’s stock after purchasing an additional 182,435 shares during the quarter. Fmr LLC owned approximately 3.39% of Radius Recycling worth $17,638,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in Radius Recycling by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 564,717 shares of the basic materials company’s stock worth $8,623,000 after purchasing an additional 16,162 shares during the period. Acadian Asset Management LLC boosted its position in shares of Radius Recycling by 4.7% during the 2nd quarter. Acadian Asset Management LLC now owns 345,134 shares of the basic materials company’s stock valued at $5,267,000 after acquiring an additional 15,644 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Radius Recycling by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 126,884 shares of the basic materials company’s stock valued at $2,352,000 after acquiring an additional 6,432 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of Radius Recycling by 78.3% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 97,088 shares of the basic materials company’s stock valued at $1,483,000 after acquiring an additional 42,636 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Radius Recycling during the 2nd quarter valued at approximately $1,213,000. 78.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RDUS has been the subject of a number of research reports. StockNews.com upgraded Radius Recycling from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group initiated coverage on Radius Recycling in a research report on Monday, December 2nd. They set a “neutral” rating and a $22.00 target price for the company.

Radius Recycling Stock Performance

NASDAQ:RDUS opened at $19.02 on Wednesday. The stock’s fifty day moving average is $18.40 and its 200 day moving average is $16.81. Radius Recycling, Inc. has a fifty-two week low of $12.69 and a fifty-two week high of $31.70. The firm has a market capitalization of $533.32 million, a PE ratio of -2.03 and a beta of 1.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.18. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The company had revenue of $771.00 million for the quarter, compared to analyst estimates of $680.80 million. During the same quarter in the prior year, the firm posted $0.47 EPS. Radius Recycling’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Radius Recycling, Inc. will post -1.02 earnings per share for the current year.

Radius Recycling Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.1875 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.75 dividend on an annualized basis and a yield of 3.94%. Radius Recycling’s payout ratio is -8.01%.

Insiders Place Their Bets

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total value of $301,889.00. Following the sale, the senior vice president now owns 133,780 shares in the company, valued at $2,284,962.40. This trade represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.70% 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.