Algert Global LLC Acquires 33,578 Shares of Radius Recycling, Inc. (NASDAQ:RDUS)

Algert Global LLC grew its holdings in shares of Radius Recycling, Inc. (NASDAQ:RDUS - Free Report) by 67.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,292 shares of the basic materials company's stock after purchasing an additional 33,578 shares during the quarter. Algert Global LLC owned about 0.30% of Radius Recycling worth $1,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RDUS. KLP Kapitalforvaltning AS bought a new position in shares of Radius Recycling in the fourth quarter valued at approximately $4,199,000. Icon Advisers Inc. Co. boosted its position in shares of Radius Recycling by 115.9% in the fourth quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company's stock valued at $4,338,000 after acquiring an additional 153,000 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Radius Recycling in the fourth quarter valued at approximately $1,964,000. Proficio Capital Partners LLC bought a new position in shares of Radius Recycling in the fourth quarter valued at approximately $1,342,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Radius Recycling by 92.5% in 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 during the period. Institutional investors own 78.11% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Radius Recycling in a research report on Monday. They issued a "sell" rating for the company.

Radius Recycling Price Performance

Radius Recycling stock traded up $0.04 during mid-day trading on Monday, hitting $29.38. 427,160 shares of the company traded hands, compared to its average volume of 404,292. Radius Recycling, Inc. has a one year low of $10.57 and a one year high of $29.72. The stock has a market cap of $828.57 million, a price-to-earnings ratio of -2.93 and a beta of 1.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02. The stock has a fifty day moving average price of $27.20 and a 200-day moving average price of $19.56.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last announced its earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $642.51 million during the quarter, compared to analyst estimates of $635.94 million. On average, equities analysts predict that Radius Recycling, Inc. will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Dividend Announcement

The firm also recently disclosed 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 payout ratio 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.