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

Proficio Capital Partners LLC purchased a new position in shares of Radius Recycling, Inc. (NASDAQ:RDUS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of RDUS. Victory Capital Management Inc. boosted its holdings in shares of Radius Recycling by 7.0% during the 3rd quarter. Victory Capital Management Inc. now owns 52,200 shares of the basic materials company’s stock worth $968,000 after buying an additional 3,400 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Radius Recycling by 2,836.2% in the 3rd quarter. Quest Partners LLC now owns 22,491 shares of the basic materials company’s stock worth $417,000 after purchasing an additional 21,725 shares in the last quarter. Algert Global LLC bought a new position in shares of Radius Recycling in the 3rd quarter worth $922,000. FMR LLC lifted its holdings in shares of Radius Recycling by 23.7% in the 3rd quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock worth $17,638,000 after purchasing an additional 182,435 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Radius Recycling by 87.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,502 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 5,815 shares in the last quarter. 78.11% of the stock is currently owned by institutional investors.

Radius Recycling Price Performance

Shares of NASDAQ:RDUS opened at $28.99 on Friday. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The stock’s fifty day simple moving average is $14.38 and its two-hundred day simple moving average is $16.28. Radius Recycling, Inc. has a 1-year low of $10.57 and a 1-year high of $29.16. The stock has a market cap of $816.21 million, a PE ratio of -2.89 and a beta of 1.67.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.67). Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The company had revenue of $656.54 million for the quarter, compared to the consensus estimate of $665.90 million. During the same quarter last year, the business posted ($0.64) earnings per share. Radius Recycling’s revenue was down 2.4% on a year-over-year basis. As a group, analysts forecast that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently issued reports 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 assumed coverage on Radius Recycling in a report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 target price on the 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.