Proficio Capital Partners LLC Acquires New Shares in Radius Recycling, Inc. (NASDAQ:RDUS)

Proficio Capital Partners LLC purchased a new stake in shares of Radius Recycling, Inc. (NASDAQ:RDUS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 88,169 shares of the basic materials company’s stock, valued at approximately $1,342,000. Proficio Capital Partners LLC owned approximately 0.31% of Radius Recycling at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Radius Recycling during the third quarter worth about $32,000. Point72 DIFC Ltd bought a new stake in shares of Radius Recycling during the third quarter worth about $46,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Radius Recycling by 172.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock worth $99,000 after purchasing an additional 3,394 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Radius Recycling during the fourth quarter worth about $140,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Radius Recycling during the fourth quarter worth about $160,000. 78.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. StockNews.com cut Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. The Goldman Sachs Group started coverage on Radius Recycling in a report on Monday, December 2nd. They set a “neutral” rating and a $22.00 price target on the stock.

Radius Recycling Stock Performance

Shares of RDUS stock opened at $13.71 on Friday. The business’s 50 day simple moving average is $13.01 and its 200 day simple moving average is $15.85. Radius Recycling, Inc. has a one year low of $10.57 and a one year high of $21.42. The stock has a market capitalization of $386.01 million, a PE ratio of -1.37 and a beta of 1.67. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). The business 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%. Radius Recycling’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.64) earnings per share. As a group, research analysts forecast 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 was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date was Monday, February 3rd. Radius Recycling’s payout ratio is -7.49%.

Radius Recycling 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.