Radius Recycling (NASDAQ:RDUS) Downgraded by StockNews.com

StockNews.com downgraded shares of Radius Recycling (NASDAQ:RDUS) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Separately, Seaport Res Ptn downgraded Radius Recycling from a neutral rating to a sell rating in a research note on Wednesday, February 28th.

Radius Recycling Trading Up 1.8 %

RDUS traded up $0.31 during trading on Thursday, hitting $17.86. The company’s stock had a trading volume of 175,728 shares, compared to its average volume of 299,589. Radius Recycling has a twelve month low of $16.84 and a twelve month high of $36.64. The stock’s fifty day moving average price is $19.24 and its 200-day moving average price is $23.75. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 0.92.

Radius Recycling (NASDAQ:RDUS) last released its earnings results on Thursday, April 4th. The basic materials company reported ($1.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.05. The company had revenue of $621.06 million for the quarter, compared to the consensus estimate of $626.35 million. Radius Recycling had a negative net margin of 2.28% and a negative return on equity of 1.73%. Radius Recycling’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. As a group, sell-side analysts predict that Radius Recycling will post -3.53 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 22nd will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Friday, April 19th. Radius Recycling’s dividend payout ratio is currently -32.89%.

Institutional Trading of Radius Recycling

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Radius Recycling during the first quarter valued at about $51,000. Nordea Investment Management AB bought a new position in Radius Recycling in the 1st quarter valued at about $3,959,000. BNP Paribas Financial Markets acquired a new position in Radius Recycling during the 1st quarter valued at about $649,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Radius Recycling during the 1st quarter worth approximately $236,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Radius Recycling in the first quarter worth approximately $367,000. Institutional investors own 78.11% of the company’s 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.