Fmr LLC Increases Stake in Radius Recycling, Inc. (NASDAQ:RDUS)

Fmr LLC increased its position in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 23.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 951,337 shares of the basic materials company’s stock after purchasing an additional 182,435 shares during the period. Fmr LLC’s holdings in Radius Recycling were worth $17,638,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RDUS. Gladius Capital Management LP purchased a new position in shares of Radius Recycling during the second quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Radius Recycling during the second quarter valued at $30,000. Founders Capital Management increased its stake in shares of Radius Recycling by 50.0% during the third 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 period. Banque Cantonale Vaudoise boosted its position in Radius Recycling by 23.6% during the second quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 564 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Radius Recycling by 403.9% during the third quarter. Signaturefd LLC now owns 4,092 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 3,280 shares in the last quarter. Hedge funds and other institutional investors own 78.11% of the company’s stock.

Radius Recycling Price Performance

Shares of RDUS stock opened at $19.02 on Wednesday. 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 company has a market cap of $533.32 million, a P/E ratio of -2.03 and a beta of 1.59. The stock’s 50-day moving average is $18.40 and its 200 day moving average is $16.81. Radius Recycling, Inc. has a 1-year low of $12.69 and a 1-year high of $31.70.

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

Radius Recycling Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Tuesday, November 12th. Radius Recycling’s dividend payout ratio is presently -8.01%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RDUS shares. StockNews.com raised Radius Recycling from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group started coverage on Radius Recycling in a research report on Monday, December 2nd. They set a “neutral” rating and a $22.00 price objective on the stock.

Radius Recycling Profile

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.