KLP Kapitalforvaltning AS Buys Shares of 275,900 Radius Recycling, Inc. (NASDAQ:RDUS)

KLP Kapitalforvaltning AS bought a new stake in Radius Recycling, Inc. (NASDAQ:RDUS) during the 4th quarter, HoldingsChannel.com reports. The firm bought 275,900 shares of the basic materials company’s stock, valued at approximately $4,199,000.

A number of other institutional investors have also recently made changes to their positions in RDUS. Quarry LP purchased a new position in Radius Recycling in the 3rd quarter valued at $32,000. Point72 DIFC Ltd purchased a new position in shares of Radius Recycling in the third quarter worth about $46,000. Point72 Asia Singapore Pte. Ltd. boosted its position in Radius Recycling by 172.9% during the third 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 last quarter. SG Americas Securities LLC acquired a new position in Radius Recycling during the fourth quarter worth about $140,000. Finally, Centiva Capital LP purchased a new stake in Radius Recycling during the 3rd quarter valued at about $193,000. 78.11% of the stock is owned by institutional investors and hedge funds.

Radius Recycling Price Performance

Radius Recycling stock opened at $29.10 on Thursday. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average price of $15.79 and a 200 day moving average price of $16.70. Radius Recycling, Inc. has a 12-month low of $10.57 and a 12-month high of $29.16. The stock has a market cap of $819.31 million, a P/E ratio of -2.90 and a beta of 1.67.

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

Radius Recycling Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is presently -7.49%.

Analyst Ratings Changes

RDUS has been the topic of several recent research reports. StockNews.com began coverage on Radius Recycling in a report on Tuesday. They set a “sell” rating on the stock. The Goldman Sachs Group began coverage on Radius Recycling in a research note on Monday, December 2nd. They set a “neutral” rating and a $22.00 price objective on the 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.