Point72 Asset Management L.P. Acquires 14,200 Shares of Radius Recycling, Inc. (NASDAQ:RDUS)

Point72 Asset Management L.P. increased its holdings in shares of Radius Recycling, Inc. (NASDAQ:RDUS - Free Report) by 302.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,900 shares of the basic materials company's stock after buying an additional 14,200 shares during the period. Point72 Asset Management L.P. owned about 0.07% of Radius Recycling worth $288,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new stake in Radius Recycling during the 4th quarter worth approximately $68,000. SG Americas Securities LLC acquired a new position in shares of Radius Recycling in the 4th quarter worth approximately $140,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Radius Recycling in the 4th quarter worth approximately $160,000. Quantinno Capital Management LP acquired a new position in shares of Radius Recycling in the 4th quarter worth approximately $181,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Radius Recycling in the 4th quarter worth approximately $207,000. 78.11% of the stock is currently owned by institutional investors and hedge funds.

Radius Recycling Stock Up 0.3%

Shares of Radius Recycling stock traded up $0.09 during trading on Thursday, reaching $29.63. 252,889 shares of the company traded hands, compared to its average volume of 425,197. 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 1-year low of $10.57 and a 1-year high of $29.69. The company has a 50 day moving average price of $29.19 and a 200-day moving average price of $20.50. The firm has a market capitalization of $835.48 million, a PE ratio of -2.96 and a beta of 1.04.

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

Radius Recycling Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 21st were given a dividend of $0.1875 per share. The ex-dividend date was Monday, April 21st. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.53%. Radius Recycling's payout ratio is presently -7.52%.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on shares of Radius Recycling in a research report on Tuesday, May 20th. They issued a "sell" rating on the 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.