Radius Recycling (NASDAQ:RDUS) Downgraded to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of Radius Recycling (NASDAQ:RDUS) from a hold rating to a sell rating in a research report released on Thursday morning.

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

Radius Recycling Price Performance

Radius Recycling stock opened at $15.66 on Thursday. 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 has a 52 week low of $12.69 and a 52 week high of $31.70. The stock has a market capitalization of $439.09 million, a P/E ratio of -1.67 and a beta of 1.59. The stock has a fifty day moving average of $18.08 and a 200-day moving average of $16.80.

Radius Recycling (NASDAQ:RDUS) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $680.80 million. During the same period in the prior year, the company earned $0.47 EPS. Radius Recycling’s revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts expect that Radius Recycling will post -1.02 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.1875 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.79%. Radius Recycling’s payout ratio is presently -8.01%.

Insiders Place Their Bets

In other news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total value of $301,889.00. Following the completion of the sale, the senior vice president now owns 133,780 shares in the company, valued at $2,284,962.40. This represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Radius Recycling in the 2nd quarter worth about $30,000. Quarry LP bought a new position in shares of Radius Recycling during the 3rd quarter valued at $32,000. Founders Capital Management raised its position in Radius Recycling by 50.0% in the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 600 shares during the period. Banque Cantonale Vaudoise lifted its stake in Radius Recycling by 23.6% in the second quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 564 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Radius Recycling during the third quarter valued at about $46,000. Hedge funds and other institutional investors own 78.11% of the company’s stock.

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.