Ballentine Partners LLC Invests $363,000 in Radius Recycling, Inc. (NASDAQ:RDUS)

Ballentine Partners LLC bought a new position in shares of Radius Recycling, Inc. (NASDAQ:RDUS) during the third quarter, HoldingsChannel reports. The fund bought 19,575 shares of the basic materials company’s stock, valued at approximately $363,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB purchased a new position in Radius Recycling in the 1st quarter valued at $3,959,000. Russell Investments Group Ltd. purchased a new position in Radius Recycling in the 1st quarter valued at $3,884,000. Swedbank AB purchased a new position in Radius Recycling in the 1st quarter valued at $1,437,000. Lesa Sroufe & Co purchased a new stake in shares of Radius Recycling during the 1st quarter worth $1,321,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Radius Recycling during the 1st quarter worth $649,000. 78.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Radius Recycling from a “hold” rating to a “sell” rating in a research report on Monday.

Radius Recycling Price Performance

Shares of NASDAQ RDUS opened at $16.77 on Tuesday. The firm has a market capitalization of $470.23 million, a P/E ratio of -1.79 and a beta of 1.53. Radius Recycling, Inc. has a one year low of $12.69 and a one year high of $31.70. The company’s fifty day moving average is $16.69 and its two-hundred day moving average is $16.64. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92.

Radius Recycling (NASDAQ:RDUS) last issued its earnings results on Thursday, October 24th. The basic materials company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.18. The company had revenue of $771.00 million for the quarter, compared to analyst estimates of $680.80 million. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. Analysts forecast that Radius Recycling, Inc. will post -1.02 EPS for the current fiscal year.

Radius Recycling Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Tuesday, November 12th. Radius Recycling’s dividend payout ratio (DPR) is presently -8.01%.

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.