Radius Recycling (NASDAQ:RDUS) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Radius Recycling (NASDAQ:RDUS) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

Radius Recycling Price Performance

NASDAQ RDUS opened at $19.71 on Tuesday. The business has a 50 day simple moving average of $18.16 and a 200 day simple moving average of $16.75. Radius Recycling has a 52-week low of $12.69 and a 52-week high of $31.70. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92. The stock has a market cap of $552.67 million, a price-to-earnings ratio of -2.11 and a beta of 1.55.

Radius Recycling (NASDAQ:RDUS) last posted its earnings results on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.18. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The business had revenue of $771.00 million during the quarter, compared to analysts’ expectations of $680.80 million. During the same period in the prior year, the business earned $0.47 EPS. Radius Recycling’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts anticipate that Radius Recycling will post -1.02 earnings per share for the current fiscal year.

Radius Recycling Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.1875 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.75 annualized dividend and a dividend yield of 3.81%. Radius Recycling’s dividend payout ratio is currently -8.01%.

Insider Transactions at Radius Recycling

In other news, SVP Steven Heiskell sold 17,675 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total transaction of $301,889.00. Following the completion of the transaction, the senior vice president now directly owns 133,780 shares of the company’s stock, valued at $2,284,962.40. This trade represents a 11.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Radius Recycling

Several hedge funds have recently made changes to their positions in RDUS. Gladius Capital Management LP acquired a new stake in shares of Radius Recycling in the 2nd quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Radius Recycling in the 2nd quarter valued at approximately $30,000. Quarry LP acquired a new stake in shares of Radius Recycling in the 3rd quarter valued at approximately $32,000. Founders Capital Management boosted its holdings in shares of Radius Recycling by 50.0% in the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock valued at $33,000 after buying an additional 600 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Radius Recycling by 23.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock valued at $45,000 after buying an additional 564 shares during the last quarter. 78.11% of the stock is owned by institutional investors.

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.