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

JPMorgan Chase & Co. boosted its stake in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 67.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,919 shares of the basic materials company’s stock after buying an additional 33,298 shares during the period. JPMorgan Chase & Co.’s holdings in Radius Recycling were worth $1,537,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Radius Recycling in the 2nd quarter worth $30,000. Quarry LP bought a new stake in shares of Radius Recycling in the 3rd quarter worth $32,000. Founders Capital Management increased its holdings in shares of Radius Recycling by 50.0% in the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 600 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Radius Recycling in the 3rd quarter worth $46,000. Finally, Signaturefd LLC increased its holdings in shares of Radius Recycling by 403.9% in the 3rd quarter. Signaturefd LLC now owns 4,092 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 3,280 shares in the last quarter. Institutional investors own 78.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RDUS shares. StockNews.com lowered Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. The Goldman Sachs Group began coverage on Radius Recycling in a report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 target price for the company.

Radius Recycling Stock Performance

Shares of RDUS opened at $12.88 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97. Radius Recycling, Inc. has a one year low of $10.57 and a one year high of $27.70. The firm has a market capitalization of $362.70 million, a P/E ratio of -1.29 and a beta of 1.64. The business has a fifty day moving average of $16.32 and a 200 day moving average of $16.55.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.67). Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The firm had revenue of $656.54 million during the quarter, compared to the consensus estimate of $665.90 million. During the same period in the previous year, the firm earned ($0.64) EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Radius Recycling, Inc. will post -1.02 EPS for the current year.

Radius Recycling Announces Dividend

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

Insider Buying and Selling

In related news, SVP Steven Heiskell sold 17,675 shares of Radius Recycling stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total transaction of $301,889.00. Following the transaction, the senior vice president now directly owns 133,780 shares in the company, valued at approximately $2,284,962.40. The trade was a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.90% of the stock is currently owned by corporate insiders.

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.