Radius Recycling (NASDAQ:RDUS) Shares Gap Up to $17.43

Radius Recycling, Inc. (NASDAQ:RDUS) shares gapped up before the market opened on Wednesday . The stock had previously closed at $17.43, but opened at $17.78. Radius Recycling shares last traded at $17.98, with a volume of 32,811 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RDUS. Seaport Res Ptn lowered shares of Radius Recycling from a “neutral” rating to a “sell” rating in a research note on Wednesday, February 28th. StockNews.com downgraded Radius Recycling from a “hold” rating to a “sell” rating in a research report on Friday, April 5th.

Radius Recycling Price Performance

The firm has a market capitalization of $503.36 million, a price-to-earnings ratio of -7.77 and a beta of 1.60. The stock’s fifty day moving average price is $20.93 and its two-hundred day moving average price is $24.55. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings data on Thursday, April 4th. The basic materials company reported ($1.04) EPS for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.05. The business had revenue of $621.06 million for the quarter, compared to the consensus estimate of $626.35 million. Radius Recycling had a negative return on equity of 1.73% and a negative net margin of 2.28%. The business’s revenue for the quarter was down 17.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS. Equities research analysts expect that Radius Recycling, Inc. will post -3.53 EPS for the current year.

Radius Recycling Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 22nd will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, April 19th. This represents a $0.75 annualized dividend and a dividend yield of 4.17%. Radius Recycling’s dividend payout ratio is presently -32.89%.

Institutional Investors Weigh In On Radius Recycling

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Unison Advisors LLC purchased a new stake in shares of Radius Recycling in the 1st quarter valued at about $226,000. Green Alpha Advisors LLC acquired a new position in shares of Radius Recycling during the 1st quarter worth $967,000. Fisher Asset Management LLC acquired a new stake in shares of Radius Recycling during the 4th quarter valued at approximately $4,488,000. Nuveen Asset Management LLC boosted its stake in shares of Radius Recycling by 12.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 373,561 shares of the basic materials company’s stock worth $11,203,000 after acquiring an additional 40,632 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Radius Recycling by 13.5% in the second quarter. Wells Fargo & Company MN now owns 40,099 shares of the basic materials company’s stock valued at $1,203,000 after purchasing an additional 4,757 shares during the last quarter. 78.11% of the stock is currently owned by institutional investors and hedge funds.

Radius Recycling Company 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.