JPMorgan Chase & Co. Buys 33,298 Shares of Radius Recycling, Inc. (NASDAQ:RDUS)

JPMorgan Chase & Co. increased its stake in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 67.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,919 shares of the basic materials company’s stock after acquiring an additional 33,298 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.30% of Radius Recycling worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of RDUS. FMR LLC grew its position in Radius Recycling by 23.7% during the 3rd quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock worth $17,638,000 after acquiring an additional 182,435 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Radius Recycling in the 2nd quarter worth approximately $1,213,000. Algert Global LLC purchased a new stake in Radius Recycling in the 3rd quarter worth approximately $922,000. Systematic Financial Management LP lifted its holdings in Radius Recycling by 8.5% in the 3rd quarter. Systematic Financial Management LP now owns 630,962 shares of the basic materials company’s stock worth $11,698,000 after buying an additional 49,450 shares during the period. Finally, Dark Forest Capital Management LP lifted its holdings in Radius Recycling by 333.4% in the 2nd quarter. Dark Forest Capital Management LP now owns 49,867 shares of the basic materials company’s stock worth $761,000 after buying an additional 38,361 shares during the period. 78.11% of the stock is currently owned by institutional investors.

Insider Activity

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

Radius Recycling Trading Down 0.9 %

RDUS opened at $12.88 on Friday. The stock has a market cap of $362.70 million, a PE ratio of -1.29 and a beta of 1.64. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75. The business has a 50 day moving average of $16.32 and a 200-day moving average of $16.55. Radius Recycling, Inc. has a 52 week low of $10.57 and a 52 week high of $27.70.

Radius Recycling (NASDAQ:RDUS) last released its earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). The firm had revenue of $656.54 million during the quarter, compared to analysts’ expectations of $665.90 million. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.64) EPS. Equities research analysts predict that Radius Recycling, Inc. will post -1.02 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend is Monday, February 3rd. Radius Recycling’s payout ratio is presently -7.49%.

Wall Street Analysts Forecast Growth

RDUS has been the subject of several research analyst reports. StockNews.com cut Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. The Goldman Sachs Group initiated coverage on Radius Recycling in a report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 price objective for the company.

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.