Victory Capital Management Inc. Purchases 3,400 Shares of Radius Recycling, Inc. (NASDAQ:RDUS)

Victory Capital Management Inc. grew its position in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 7.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,200 shares of the basic materials company’s stock after buying an additional 3,400 shares during the quarter. Victory Capital Management Inc. owned approximately 0.19% of Radius Recycling worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Gladius Capital Management LP bought a new stake in Radius Recycling during the second quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Radius Recycling during the second quarter worth about $30,000. Founders Capital Management grew its stake in Radius Recycling by 50.0% during the third quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock worth $33,000 after buying an additional 600 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in Radius Recycling by 23.6% during the second quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock worth $45,000 after buying an additional 564 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Radius Recycling by 403.9% during the third quarter. Signaturefd LLC now owns 4,092 shares of the basic materials company’s stock worth $76,000 after buying an additional 3,280 shares during the last quarter. 78.11% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total value of $301,889.00. Following the transaction, the senior vice president now directly 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 filing with the SEC, which is available at the SEC website. 5.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Radius Recycling from a “hold” rating to a “sell” rating in a research note on Tuesday.

Radius Recycling Price Performance

RDUS opened at $19.71 on Thursday. Radius Recycling, Inc. has a one year low of $12.69 and a one year high of $31.70. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.00. The company’s 50 day simple moving average is $18.11 and its 200-day simple moving average is $16.73. The stock has a market capitalization of $552.67 million, a P/E ratio of -2.08 and a beta of 1.55.

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

Radius Recycling Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.1875 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.75 annualized dividend and a dividend yield of 3.81%. Radius Recycling’s dividend payout ratio (DPR) is currently -8.01%.

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.