Radius Recycling (NASDAQ:RDUS) Shares Gap Up to $17.43

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $17.43, but opened at $17.78. Radius Recycling shares last traded at $17.98, with a volume of 32,811 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have commented on RDUS. StockNews.com downgraded Radius Recycling from a "hold" rating to a "sell" rating in a research note on Friday, April 5th. Seaport Res Ptn downgraded Radius Recycling from a "neutral" rating to a "sell" rating in a research note on Wednesday, February 28th.

Radius Recycling Trading Up 4.5 %

The firm has a market capitalization of $509.80 million, a PE ratio of -7.99 and a beta of 1.60. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $20.80 and a 200 day simple moving average of $24.50.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last released its quarterly earnings results on Thursday, April 4th. The basic materials company reported ($1.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.09) by $0.05. The firm had revenue of $621.06 million for the quarter, compared to the consensus estimate of $626.35 million. Radius Recycling had a negative return on equity of 1.73% and a negative net margin of 2.28%. The company's revenue for the quarter was down 17.8% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS. Equities analysts expect that Radius Recycling, Inc. will post -3.53 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 22nd will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.12%. Radius Recycling's dividend payout ratio (DPR) is currently -32.89%.

Hedge Funds Weigh In On Radius Recycling

A number of institutional investors and hedge funds have recently modified their holdings of RDUS. BlackRock Inc. boosted its stake in shares of Radius Recycling by 19.5% in the 1st quarter. BlackRock Inc. now owns 3,216,557 shares of the basic materials company's stock worth $100,035,000 after buying an additional 524,126 shares during the last quarter. State Street Corp raised its holdings in Radius Recycling by 36.2% in the 1st quarter. State Street Corp now owns 1,521,234 shares of the basic materials company's stock worth $79,013,000 after purchasing an additional 404,669 shares during the period. Millennium Management LLC raised its holdings in Radius Recycling by 274.4% in the 4th quarter. Millennium Management LLC now owns 386,848 shares of the basic materials company's stock worth $11,857,000 after purchasing an additional 283,518 shares during the period. Ameriprise Financial Inc. raised its holdings in Radius Recycling by 18.0% in the 1st quarter. Ameriprise Financial Inc. now owns 1,545,045 shares of the basic materials company's stock worth $48,051,000 after purchasing an additional 235,600 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in Radius Recycling by 1,855.0% in the 1st quarter. Allianz Asset Management GmbH now owns 161,935 shares of the basic materials company's stock worth $8,411,000 after purchasing an additional 153,652 shares during the period. 78.11% of the stock is currently owned by hedge funds and other institutional investors.

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.