Radius Recycling (NASDAQ:RDUS) Upgraded at StockNews.com

StockNews.com upgraded shares of Radius Recycling (NASDAQ:RDUS) from a sell rating to a hold rating in a report issued on Wednesday.

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

Radius Recycling Trading Down 1.3 %

Radius Recycling stock opened at $17.90 on Wednesday. Radius Recycling has a 52 week low of $16.90 and a 52 week high of $36.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 1.96. The stock has a market capitalization of $500.84 million, a P/E ratio of -7.85 and a beta of 1.60. The stock has a 50-day simple moving average of $19.89 and a 200 day simple moving average of $24.08.

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

Radius Recycling Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, April 19th. Radius Recycling’s dividend payout ratio is presently -32.89%.

Institutional Investors Weigh In On Radius Recycling

A number of institutional investors have recently made changes to their positions in RDUS. Fisher Asset Management LLC acquired a new stake in Radius Recycling during the fourth quarter worth approximately $4,488,000. Green Alpha Advisors LLC acquired a new stake in Radius Recycling during the first quarter worth approximately $967,000. Allspring Global Investments Holdings LLC acquired a new stake in Radius Recycling during the first quarter worth approximately $367,000. Unison Advisors LLC acquired a new stake in Radius Recycling during the first quarter worth approximately $226,000. Finally, Millburn Ridgefield Corp acquired a new stake in Radius Recycling during the first quarter worth approximately $33,000. 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.