Radius Recycling (NASDAQ:RDUS) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Radius Recycling (NASDAQ:RDUS) in a research note published on Monday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $22.00 target price on the basic materials company’s stock.

Separately, StockNews.com lowered Radius Recycling from a “hold” rating to a “sell” rating in a research report on Tuesday, November 26th.

Radius Recycling Stock Performance

NASDAQ:RDUS opened at $19.66 on Monday. The company’s 50-day moving average is $18.25 and its two-hundred day moving average is $16.74. Radius Recycling has a 1-year low of $12.69 and a 1-year high of $31.70. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.00. The firm has a market capitalization of $551.27 million, a price-to-earnings ratio of -2.12 and a beta of 1.55.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.18. The firm had revenue of $771.00 million for the quarter, compared to analyst estimates of $680.80 million. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. Radius Recycling’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. Analysts forecast that Radius Recycling will post -1.02 EPS for the current year.

Radius Recycling Announces Dividend

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

Insider Buying and Selling

In related news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total value of $301,889.00. Following the transaction, the senior vice president now owns 133,780 shares of the company’s stock, valued at $2,284,962.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RDUS. Vanguard Group Inc. increased its stake in Radius Recycling by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,622,968 shares of the basic materials company’s stock valued at $55,423,000 after purchasing an additional 23,199 shares during the last quarter. CANADA LIFE ASSURANCE Co purchased a new position in shares of Radius Recycling in the 1st quarter valued at $159,000. Price T Rowe Associates Inc. MD acquired a new stake in Radius Recycling during the 1st quarter worth $251,000. Public Employees Retirement System of Ohio purchased a new stake in Radius Recycling in the first quarter valued at $717,000. Finally, Janus Henderson Group PLC acquired a new position in Radius Recycling in the first quarter valued at $242,000. 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.