Corton Capital Inc. Invests $378,000 in Radius Recycling, Inc. (NASDAQ:RDUS)

Corton Capital Inc. bought a new position in shares of Radius Recycling, Inc. (NASDAQ:RDUS) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 24,810 shares of the basic materials company’s stock, valued at approximately $378,000. Corton Capital Inc. owned approximately 0.09% of Radius Recycling as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in RDUS. Barclays PLC lifted its position in shares of Radius Recycling by 15.7% during the 4th quarter. Barclays PLC now owns 67,523 shares of the basic materials company’s stock worth $1,027,000 after buying an additional 9,186 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Radius Recycling during the 4th quarter worth $1,342,000. E. Ohman J or Asset Management AB lifted its position in Radius Recycling by 29.9% in the fourth quarter. E. Ohman J or Asset Management AB now owns 98,650 shares of the basic materials company’s stock valued at $1,501,000 after acquiring an additional 22,700 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Radius Recycling by 67.1% in the third quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company’s stock valued at $1,537,000 after acquiring an additional 33,298 shares in the last quarter. Finally, PEAK6 LLC purchased a new position in shares of Radius Recycling during the fourth quarter worth about $262,000. Hedge funds and other institutional investors own 78.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Radius Recycling in a research report on Sunday. They issued a “sell” rating for the company.

Radius Recycling Stock Performance

Shares of Radius Recycling stock opened at $29.43 on Tuesday. The firm’s fifty day simple moving average is $25.62 and its 200-day simple moving average is $19.11. Radius Recycling, Inc. has a 12 month low of $10.57 and a 12 month high of $29.60. The stock has a market capitalization of $829.98 million, a price-to-earnings ratio of -2.94 and a beta of 1.04. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings data on Friday, April 4th. The basic materials company reported ($0.99) EPS for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.09. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The company had revenue of $642.51 million for the quarter, compared to analyst estimates of $635.94 million. As a group, equities analysts forecast that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 21st were paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 2.55%. The ex-dividend date was Monday, April 21st. Radius Recycling’s dividend payout ratio is presently -7.52%.

Radius Recycling 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.