Radius Recycling (NASDAQ:RDUS) Now Covered by StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Radius Recycling (NASDAQ:RDUS) in a research report issued to clients and investors on Wednesday. The brokerage set a “sell” rating on the basic materials company’s stock.

Radius Recycling Trading Up 0.1 %

Shares of NASDAQ RDUS opened at $28.90 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. Radius Recycling has a one year low of $10.57 and a one year high of $29.18. The business has a 50-day moving average price of $17.09 and a two-hundred day moving average price of $17.10. The firm has a market capitalization of $813.68 million, a PE ratio of -2.88 and a beta of 1.67.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share 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 analyst estimates of $665.90 million. During the same period last year, the company posted ($0.64) earnings per share. The company’s revenue was down 2.4% compared to the same quarter last year. As a group, analysts predict that Radius Recycling will post -3.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Radius Recycling

Hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its position in 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 worth $38,039,000 after buying an additional 377,212 shares during the period. KLP Kapitalforvaltning AS bought a new position in Radius Recycling during the fourth quarter worth $4,199,000. FMR LLC increased its position in Radius Recycling by 23.7% during the third quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock worth $17,638,000 after acquiring an additional 182,435 shares during the period. Icon Advisers Inc. Co. raised its stake in Radius Recycling by 115.9% during the 4th quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company’s stock valued at $4,338,000 after purchasing an additional 153,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Radius Recycling by 447.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 157,929 shares of the basic materials company’s stock valued at $2,404,000 after purchasing an additional 129,086 shares during the period. 78.11% of the stock is currently 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.