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

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

Separately, The Goldman Sachs Group started coverage on Radius Recycling in a report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 price target on the stock.

Radius Recycling Stock Performance

Shares of Radius Recycling stock opened at $15.23 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92. The firm’s 50-day simple moving average is $18.02 and its 200-day simple moving average is $16.79. Radius Recycling has a 1 year low of $12.69 and a 1 year high of $31.59. The firm has a market cap of $427.03 million, a PE ratio of -1.63 and a beta of 1.59.

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

Insider Buying and Selling

In related news, SVP Steven Heiskell sold 17,675 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 133,780 shares of the company’s stock, valued at $2,284,962.40. The trade was a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of Radius Recycling

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Banque Cantonale Vaudoise grew its position in Radius Recycling by 23.6% in the second 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 last quarter. Founders Capital Management raised its position in shares of Radius Recycling by 50.0% during the third 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 during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Radius Recycling by 1.9% during the third quarter. Public Employees Retirement System of Ohio now owns 33,186 shares of the basic materials company’s stock valued at $615,000 after purchasing an additional 610 shares during the last quarter. Green Alpha Advisors LLC increased its stake in Radius Recycling by 2.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 44,228 shares of the basic materials company’s stock worth $820,000 after purchasing an additional 925 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Radius Recycling by 10.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,589 shares of the basic materials company’s stock worth $162,000 after buying an additional 1,020 shares during the period. 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.