Balyasny Asset Management L.P. Buys Shares of 22,076 Radius Recycling, Inc. (NASDAQ:RDUS)

Balyasny Asset Management L.P. acquired a new stake in Radius Recycling, Inc. (NASDAQ:RDUS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,076 shares of the basic materials company's stock, valued at approximately $336,000. Balyasny Asset Management L.P. owned approximately 0.08% of Radius Recycling as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RDUS. Ameriprise Financial Inc. boosted its stake in shares of Radius Recycling by 17.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company's stock valued at $38,039,000 after purchasing an additional 377,212 shares during the period. Icon Advisers Inc. Co. lifted its holdings in Radius Recycling by 115.9% in the 4th quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company's stock worth $4,338,000 after buying an additional 153,000 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Radius Recycling in the 4th quarter valued at about $4,199,000. JPMorgan Chase & Co. grew its stake in shares of Radius Recycling by 92.5% during the fourth quarter. JPMorgan Chase & Co. now owns 159,621 shares of the basic materials company's stock valued at $2,429,000 after acquiring an additional 76,702 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Radius Recycling by 5.1% during the fourth quarter. Empowered Funds LLC now owns 133,356 shares of the basic materials company's stock worth $2,030,000 after acquiring an additional 6,472 shares during the last quarter. Hedge funds and other institutional investors own 78.11% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Radius Recycling in a report on Tuesday. They set a "sell" rating on the stock.

Radius Recycling Stock Up 0.1%

NASDAQ RDUS traded up $0.04 during trading hours on Thursday, reaching $29.45. 93,589 shares of the company traded hands, compared to its average volume of 413,813. The stock has a market capitalization of $830.41 million, a PE ratio of -2.94 and a beta of 1.04. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. Radius Recycling, Inc. has a 12 month low of $10.57 and a 12 month high of $29.59. The company has a 50 day moving average of $29.14 and a two-hundred day moving average of $20.13.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last issued its quarterly earnings results on Friday, April 4th. The basic materials company reported ($0.99) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.09. The business had revenue of $642.51 million for the quarter, compared to analysts' expectations of $635.94 million. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. As a group, equities analysts expect that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 21st were issued a $0.1875 dividend. The ex-dividend date was Monday, April 21st. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.55%. Radius Recycling's dividend payout ratio (DPR) is -7.52%.

Radius Recycling 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.