Radius Recycling (NASDAQ:RDUS) Trading Down 6.9%

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) dropped 6.9% during trading on Wednesday . The company traded as low as $19.07 and last traded at $19.11. Approximately 183,684 shares were traded during trading, a decline of 9% from the average daily volume of 201,945 shares. The stock had previously closed at $20.52.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com lowered Radius Recycling from a "hold" rating to a "sell" rating in a research report 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 Down 8.1 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 0.92. The business has a 50-day moving average of $21.52 and a 200-day moving average of $24.85. The firm has a market cap of $525.16 million, a price-to-earnings ratio of -8.27 and a beta of 1.60.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last released its earnings results on Thursday, April 4th. The basic materials company reported ($1.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.09) by $0.05. The business 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%. Radius Recycling's quarterly revenue was down 17.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share. Research analysts anticipate that Radius Recycling, Inc. will post -3.53 EPS for the current year.

Radius Recycling Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 22nd will be given 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 3.98%. Radius Recycling's payout ratio is -32.89%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Radius Recycling by 19.5% in the first quarter. BlackRock Inc. now owns 3,216,557 shares of the basic materials company's stock worth $100,035,000 after purchasing an additional 524,126 shares during the last quarter. State Street Corp boosted its position in shares of Radius Recycling by 36.2% during 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 in the last quarter. Millennium Management LLC boosted its position in shares of Radius Recycling by 274.4% during 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 in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Radius Recycling by 18.0% during 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 in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Radius Recycling by 1,855.0% during 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 in the last quarter. 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.