Radius Recycling (NASDAQ:RDUS) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Radius Recycling (NASDAQ:RDUS - Free Report) in a research note released on Sunday morning. The brokerage issued a sell rating on the basic materials company's stock.

Radius Recycling Price Performance

Shares of Radius Recycling stock traded down $0.02 during trading hours on Friday, hitting $29.36. The company's stock had a trading volume of 88,027 shares, compared to its average volume of 739,542. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02. Radius Recycling has a 12-month low of $10.57 and a 12-month high of $29.48. The business has a 50 day moving average price of $26.57 and a two-hundred day moving average price of $19.34. The company has a market cap of $828.01 million, a PE ratio of -2.93 and a beta of 1.04.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($1.08) by $0.09. The company had revenue of $642.51 million for the quarter, compared to the consensus estimate of $635.94 million. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. Analysts expect that Radius Recycling will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 21st were paid a dividend of $0.1875 per share. The ex-dividend date was Monday, April 21st. This represents a $0.75 annualized dividend and a yield of 2.55%. Radius Recycling's payout ratio is currently -7.52%.

Hedge Funds Weigh In On Radius Recycling

A number of institutional investors and hedge funds have recently modified their holdings of RDUS. Ameriprise Financial Inc. lifted its position in Radius Recycling by 17.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company's stock worth $38,039,000 after buying an additional 377,212 shares during the last quarter. Alpine Associates Management Inc. bought a new stake in shares of Radius Recycling in the 1st quarter worth about $27,208,000. Systematic Financial Management LP boosted its stake in shares of Radius Recycling by 9.2% during the 4th quarter. Systematic Financial Management LP now owns 689,315 shares of the basic materials company's stock worth $10,491,000 after purchasing an additional 58,353 shares during the period. Perpetual Ltd grew its holdings in Radius Recycling by 159.6% during the 1st quarter. Perpetual Ltd now owns 342,466 shares of the basic materials company's stock valued at $9,890,000 after purchasing an additional 210,561 shares during the last quarter. Finally, Icon Advisers Inc. Co. raised its position in Radius Recycling by 115.9% in the 4th quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company's stock worth $4,338,000 after purchasing an additional 153,000 shares during the period. Hedge funds and other institutional investors own 78.11% of the company's 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.