StockNews.com Initiates Coverage on Radius Recycling (NASDAQ:RDUS)

StockNews.com assumed coverage on shares of Radius Recycling (NASDAQ:RDUS - Free Report) in a research report report published on Monday morning. The firm issued a sell rating on the basic materials company's stock.

Radius Recycling Price Performance

Shares of RDUS traded up $0.01 during midday trading on Monday, reaching $29.37. The stock had a trading volume of 294,816 shares, compared to its average volume of 409,170. The company's 50-day moving average is $28.16 and its 200 day moving average is $19.78. Radius Recycling has a 12-month low of $10.57 and a 12-month high of $29.59. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $828.15 million, a price-to-earnings ratio of -2.93 and a beta of 1.04.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last posted its quarterly earnings data on Friday, April 4th. The basic materials company reported ($0.99) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.08) by $0.09. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The firm had revenue of $642.51 million during the quarter, compared to analysts' expectations of $635.94 million. On average, equities analysts predict that Radius Recycling will post -3.84 EPS for the current fiscal year.

Radius Recycling Announces Dividend

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

Institutional Investors Weigh In On Radius Recycling

Several institutional investors and hedge funds have recently bought and sold shares of RDUS. Alpine Associates Management Inc. purchased a new stake in Radius Recycling in the 1st quarter worth approximately $27,208,000. Magnetar Financial LLC purchased a new position in shares of Radius Recycling in the 1st quarter valued at approximately $18,483,000. Hsbc Holdings PLC lifted its stake in shares of Radius Recycling by 1,518.8% in the 1st quarter. Hsbc Holdings PLC now owns 643,146 shares of the basic materials company's stock valued at $18,613,000 after purchasing an additional 603,417 shares during the period. AQR Arbitrage LLC purchased a new position in shares of Radius Recycling in the 1st quarter valued at approximately $11,706,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Radius Recycling by 17.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company's stock valued at $38,039,000 after purchasing an additional 377,212 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.