Alliancebernstein L.P. cut its stake in Radius Recycling, Inc. (NASDAQ:RDUS - Free Report) by 33.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,090 shares of the basic materials company's stock after selling 19,432 shares during the quarter. Alliancebernstein L.P. owned about 0.14% of Radius Recycling worth $595,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC raised its holdings in Radius Recycling by 24.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 42,744 shares of the basic materials company's stock worth $651,000 after purchasing an additional 8,406 shares in the last quarter. JPMorgan Chase & Co. increased its position in Radius Recycling by 92.5% during the 4th quarter. JPMorgan Chase & Co. now owns 159,621 shares of the basic materials company's stock valued at $2,429,000 after buying an additional 76,702 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Radius Recycling in the fourth quarter valued at about $4,199,000. Quantbot Technologies LP purchased a new stake in shares of Radius Recycling during the fourth quarter worth about $238,000. Finally, Inceptionr LLC increased its stake in Radius Recycling by 11.2% during the 4th quarter. Inceptionr LLC now owns 18,645 shares of the basic materials company's stock valued at $284,000 after purchasing an additional 1,883 shares in the last quarter. 78.11% of the stock is currently owned by hedge funds and other institutional investors.
Radius Recycling Stock Performance
RDUS traded up $0.14 during midday trading on Thursday, hitting $29.04. 186,341 shares of the company were exchanged, compared to its average volume of 383,016. The firm has a market capitalization of $818.96 million, a price-to-earnings ratio of -2.89 and a beta of 1.07. The company's 50 day simple moving average is $23.03 and its 200 day simple moving average is $18.48. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. Radius Recycling, Inc. has a 1-year low of $10.57 and a 1-year high of $29.25.
Radius Recycling (NASDAQ:RDUS - Get Free Report) last announced its quarterly earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.08) by $0.09. The company had revenue of $642.51 million during 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, sell-side analysts predict that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.
Radius Recycling Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 21st will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Monday, April 21st. Radius Recycling's dividend payout ratio (DPR) is presently -7.52%.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on Radius Recycling in a research report on Friday, April 18th. They issued a "sell" rating on the stock.
View Our Latest Research Report on Radius Recycling
Radius Recycling Profile
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Free Report)
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.
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