Radius Recycling (NASDAQ:RDUS) Rating Lowered to “Sell” at StockNews.com

Radius Recycling (NASDAQ:RDUS) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Radius Recycling Stock Performance

RDUS opened at $19.71 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. The company has a market cap of $552.67 million, a price-to-earnings ratio of -2.08 and a beta of 1.55. The company’s 50 day moving average is $18.11 and its 200 day moving average is $16.73. Radius Recycling has a 12-month low of $12.69 and a 12-month high of $31.70.

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

Insider Buying and Selling

In related news, SVP Steven Heiskell sold 17,675 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total transaction of $301,889.00. Following the sale, the senior vice president now owns 133,780 shares of the company’s stock, valued at $2,284,962.40. This represents 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 available through this link. 5.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Radius Recycling

Several hedge funds and other institutional investors have recently made changes to their positions in RDUS. Gladius Capital Management LP purchased a new stake in shares of Radius Recycling in the second quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Radius Recycling in the second quarter valued at $30,000. Quarry LP purchased a new stake in shares of Radius Recycling in the third quarter valued at $32,000. Founders Capital Management raised its stake in shares of Radius Recycling by 50.0% in the third quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 600 shares during the period. Finally, Banque Cantonale Vaudoise increased its stake in Radius Recycling by 23.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock worth $45,000 after buying an additional 564 shares during the period. Hedge funds and other institutional investors own 78.11% of the company’s stock.

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.