Radius Recycling (NASDAQ:RDUS) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Radius Recycling (NASDAQ:RDUS) from a sell rating to a hold rating in a report issued on Wednesday morning.

Radius Recycling Stock Up 3.0 %

RDUS stock opened at $18.80 on Wednesday. The business has a 50-day moving average of $15.96 and a 200-day moving average of $16.90. Radius Recycling has a fifty-two week low of $12.69 and a fifty-two week high of $31.70. The stock has a market capitalization of $527.15 million, a P/E ratio of -1.93 and a beta of 1.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 0.92.

Institutional Trading of Radius Recycling

A number of hedge funds and other institutional investors have recently made changes to their positions in RDUS. Vanguard Group Inc. grew its position in Radius Recycling by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,622,968 shares of the basic materials company’s stock valued at $55,423,000 after purchasing an additional 23,199 shares in the last quarter. American Century Companies Inc. increased its position in shares of Radius Recycling by 2.9% in the second quarter. American Century Companies Inc. now owns 564,717 shares of the basic materials company’s stock valued at $8,623,000 after acquiring an additional 16,162 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Radius Recycling by 4.7% during the second quarter. Acadian Asset Management LLC now owns 345,134 shares of the basic materials company’s stock worth $5,267,000 after acquiring an additional 15,644 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Radius Recycling during the first quarter worth $4,667,000. Finally, Nordea Investment Management AB bought a new position in shares of Radius Recycling in the 1st quarter valued at about $3,959,000. 78.11% of the stock is currently owned by institutional investors and hedge funds.

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.