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

Radius Recycling, Inc. (NASDAQ:RDUS) shares gapped up prior to trading 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 trading hands.

Analyst Ratings Changes

RDUS has been the topic of several research analyst reports. StockNews.com downgraded shares of Radius Recycling from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Seaport Res Ptn lowered shares of Radius Recycling from a “neutral” rating to a “sell” rating in a research note on Wednesday, February 28th.

Radius Recycling Stock Performance

The firm has a market cap of $503.36 million, a price-to-earnings ratio of -7.77 and a beta of 1.60. The stock has a 50-day moving average of $20.93 and a 200-day moving average of $24.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.92 and a current ratio of 1.96.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings data 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. Radius Recycling had a negative net margin of 2.28% and a negative return on equity of 1.73%. The company had revenue of $621.06 million for the quarter, compared to the consensus estimate of $626.35 million. During the same period last year, the company earned $0.14 earnings per share. The firm’s revenue was down 17.8% compared to the same quarter last year. As a group, analysts anticipate that Radius Recycling, Inc. will post -3.53 EPS for the current fiscal year.

Radius Recycling Announces Dividend

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

Institutional Trading of Radius Recycling

Institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its stake in shares of Radius Recycling by 42.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,269 shares of the basic materials company’s stock worth $436,000 after purchasing an additional 3,964 shares in the last quarter. Bank of America Corp DE lifted its stake in Radius Recycling by 50.6% in the first quarter. Bank of America Corp DE now owns 39,894 shares of the basic materials company’s stock valued at $2,072,000 after acquiring an additional 13,400 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Radius Recycling in the first quarter valued at $720,000. Brinker Capital Investments LLC grew its position in shares of Radius Recycling by 1.6% in the 1st quarter. Brinker Capital Investments LLC now owns 19,665 shares of the basic materials company’s stock valued at $1,021,000 after acquiring an additional 311 shares during the period. Finally, State Street Corp increased its stake in shares of Radius Recycling by 36.2% during the 1st quarter. State Street Corp now owns 1,521,234 shares of the basic materials company’s stock worth $79,013,000 after purchasing an additional 404,669 shares during the last quarter. Institutional investors own 78.11% of the company’s stock.

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.