Victory Capital Management Inc. Increases Holdings in Radius Recycling, Inc. (NASDAQ:RDUS)

Victory Capital Management Inc. boosted its holdings in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 7.0% during the fourth quarter, Holdings Channel reports. The firm owned 55,850 shares of the basic materials company’s stock after acquiring an additional 3,650 shares during the quarter. Victory Capital Management Inc.’s holdings in Radius Recycling were worth $850,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RDUS. Quarry LP purchased a new position in shares of Radius Recycling during the 3rd quarter worth approximately $32,000. Point72 DIFC Ltd purchased a new position in shares of Radius Recycling during the 3rd quarter worth approximately $46,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Radius Recycling by 172.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock worth $99,000 after acquiring an additional 3,394 shares during the period. SG Americas Securities LLC purchased a new position in shares of Radius Recycling during the 4th quarter worth approximately $140,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Radius Recycling during the 4th quarter worth approximately $160,000. Hedge funds and other institutional investors own 78.11% of the company’s stock.

Radius Recycling Stock Performance

Shares of RDUS opened at $28.99 on Friday. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average price is $14.38 and its 200-day moving average price is $16.28. Radius Recycling, Inc. has a 52 week low of $10.57 and a 52 week high of $29.16. The stock has a market cap of $816.21 million, a P/E ratio of -2.89 and a beta of 1.67.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The company had revenue of $656.54 million during the quarter, compared to the consensus estimate of $665.90 million. During the same period in the prior year, the firm earned ($0.64) earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts anticipate that Radius Recycling, Inc. will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a $0.1875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.59%. Radius Recycling’s dividend payout ratio is currently -7.49%.

Analyst Upgrades and Downgrades

RDUS has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on Radius Recycling in a report on Monday, December 2nd. They set a “neutral” rating and a $22.00 target price on the stock. StockNews.com downgraded Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th.

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.