Radius Recycling (NASDAQ:RDUS) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Radius Recycling (NASDAQ:RDUS) in a research note issued to investors on Wednesday morning. The brokerage issued a sell rating on the basic materials company’s stock.

Radius Recycling Stock Performance

NASDAQ RDUS opened at $28.94 on Wednesday. The firm has a market cap of $814.81 million, a P/E ratio of -2.89 and a beta of 1.67. Radius Recycling has a 52-week low of $10.57 and a 52-week high of $29.20. The business’s 50-day moving average price is $18.07 and its 200 day moving average price is $17.35. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75.

Radius Recycling (NASDAQ:RDUS) last announced its earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.08) by $0.09. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The company had revenue of $642.51 million for the quarter, compared to the consensus estimate of $635.94 million. On average, equities research analysts expect that Radius Recycling will post -3.84 earnings per share for the current year.

Radius Recycling Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is presently -7.49%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RDUS. Quarry LP acquired a new stake in Radius Recycling in the third quarter valued at about $32,000. Point72 DIFC Ltd acquired a new stake in shares of Radius Recycling in the 3rd quarter valued at approximately $46,000. Aquatic Capital Management LLC acquired a new stake in shares of Radius Recycling in the 4th quarter valued at approximately $68,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Radius Recycling by 172.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock valued at $99,000 after buying an additional 3,394 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Radius Recycling during the fourth quarter worth $140,000. 78.11% of the stock is currently owned by institutional investors and hedge funds.

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.