Radius Recycling (NASDAQ:RDUS – Get Free Report) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
Separately, Seaport Res Ptn raised shares of Radius Recycling from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 30th.
Check Out Our Latest Report on RDUS
Radius Recycling Price Performance
Radius Recycling (NASDAQ:RDUS – Get Free Report) last announced its earnings results on Tuesday, July 2nd. The basic materials company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.07. Radius Recycling had a negative net margin of 10.28% and a negative return on equity of 5.89%. The company had revenue of $673.92 million for the quarter, compared to the consensus estimate of $693.90 million. During the same period in the previous year, the business earned $0.67 EPS. The company’s revenue was down 16.8% on a year-over-year basis. On average, research analysts forecast that Radius Recycling will post -3.32 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Radius Recycling
Several institutional investors and hedge funds have recently modified their holdings of the stock. Millburn Ridgefield Corp bought a new stake in Radius Recycling in the first quarter worth $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Radius Recycling during the first quarter valued at about $51,000. Ameritas Investment Partners Inc. bought a new stake in Radius Recycling during the first quarter valued at about $54,000. Shell Asset Management Co. bought a new stake in Radius Recycling during the first quarter valued at about $81,000. Finally, CANADA LIFE ASSURANCE Co bought a new stake in Radius Recycling during the first quarter valued at about $159,000. 78.11% of the stock is currently owned by hedge funds and other institutional investors.
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.
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