Bank of New York Mellon Corp Sells 257,941 Shares of Radius Recycling, Inc. (NASDAQ:RDUS)

Bank of New York Mellon Corp lowered its stake in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 48.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 269,691 shares of the basic materials company’s stock after selling 257,941 shares during the period. Bank of New York Mellon Corp owned approximately 0.96% of Radius Recycling worth $4,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RDUS. E. Ohman J or Asset Management AB lifted its stake in Radius Recycling by 29.9% during the 4th quarter. E. Ohman J or Asset Management AB now owns 98,650 shares of the basic materials company’s stock valued at $1,501,000 after acquiring an additional 22,700 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Radius Recycling by 67.1% during the third quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company’s stock worth $1,537,000 after purchasing an additional 33,298 shares during the last quarter. Jane Street Group LLC grew its position in Radius Recycling by 62.9% in the 3rd quarter. Jane Street Group LLC now owns 90,813 shares of the basic materials company’s stock worth $1,684,000 after purchasing an additional 35,073 shares in the last quarter. Barclays PLC increased its stake in Radius Recycling by 156.2% in the 3rd quarter. Barclays PLC now owns 58,337 shares of the basic materials company’s stock valued at $1,081,000 after buying an additional 35,568 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Radius Recycling by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company’s stock valued at $11,936,000 after buying an additional 36,618 shares during the last quarter. 78.11% of the stock is owned by institutional investors.

Radius Recycling Stock Performance

NASDAQ RDUS opened at $28.98 on Wednesday. The company has a market capitalization of $815.93 million, a PE ratio of -2.89 and a beta of 1.67. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02. Radius Recycling, Inc. has a 52-week low of $10.57 and a 52-week high of $29.10. The company has a 50-day simple moving average of $13.67 and a 200 day simple moving average of $16.10.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results 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 analysts’ expectations of $665.90 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.64) EPS. On average, research analysts predict that Radius Recycling, Inc. will post -3.84 EPS for the current year.

Radius Recycling Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on RDUS. StockNews.com lowered Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. The Goldman Sachs Group began coverage on Radius Recycling in a research report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 price objective on the stock.

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.