Millennium Management LLC Grows Stock Position in Radius Recycling, Inc. (NASDAQ:RDUS)

Millennium Management LLC increased its holdings in shares of Radius Recycling, Inc. (NASDAQ:RDUS - Free Report) by 77.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 148,823 shares of the basic materials company's stock after acquiring an additional 64,902 shares during the period. Millennium Management LLC owned approximately 0.53% of Radius Recycling worth $2,265,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Graham Capital Management L.P. grew its position in shares of Radius Recycling by 50.8% during the 4th quarter. Graham Capital Management L.P. now owns 19,817 shares of the basic materials company's stock valued at $302,000 after acquiring an additional 6,675 shares during the period. Corton Capital Inc. acquired a new stake in shares of Radius Recycling during the 4th quarter valued at about $378,000. Cubist Systematic Strategies LLC boosted its holdings in Radius Recycling by 447.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 157,929 shares of the basic materials company's stock worth $2,404,000 after buying an additional 129,086 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Radius Recycling in the 4th quarter worth about $336,000. Finally, Bank of America Corp DE boosted its holdings in Radius Recycling by 15.8% in the 4th quarter. Bank of America Corp DE now owns 81,801 shares of the basic materials company's stock worth $1,245,000 after buying an additional 11,191 shares during the last quarter. 78.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on Radius Recycling in a report on Tuesday, May 20th. They issued a "sell" rating on the stock.

Radius Recycling Price Performance

RDUS stock traded down $0.08 during trading on Thursday, hitting $29.58. The stock had a trading volume of 775,145 shares, compared to its average volume of 445,830. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97. Radius Recycling, Inc. has a twelve month low of $10.57 and a twelve month high of $29.72. The stock has a market capitalization of $834.22 million, a P/E ratio of -2.95 and a beta of 1.04. The company's 50-day moving average price is $29.27 and its two-hundred day moving average price is $20.96.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last issued its earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share 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 return on equity of 14.16% and a negative net margin of 10.49%. As a group, research analysts predict that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal 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 given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Monday, April 21st. Radius Recycling's payout ratio is presently -7.52%.

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.