Ameriprise Financial Inc. Has $38.04 Million Position in Radius Recycling, Inc. (NASDAQ:RDUS)

Ameriprise Financial Inc. increased its position in Radius Recycling, Inc. (NASDAQ:RDUS) by 17.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,499,259 shares of the basic materials company’s stock after acquiring an additional 377,212 shares during the period. Ameriprise Financial Inc. owned about 0.09% of Radius Recycling worth $38,039,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new position in Radius Recycling in the fourth quarter worth approximately $68,000. SG Americas Securities LLC acquired a new position in Radius Recycling in the fourth quarter worth approximately $140,000. Y Intercept Hong Kong Ltd acquired a new position in Radius Recycling in the fourth quarter worth approximately $160,000. Trium Capital LLP grew its holdings in Radius Recycling by 41.8% during the fourth quarter. Trium Capital LLP now owns 13,320 shares of the basic materials company’s stock valued at $203,000 after purchasing an additional 3,925 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Radius Recycling in the fourth quarter valued at approximately $207,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Radius Recycling in a research note on Monday. They issued a “sell” rating for the company.

Radius Recycling Price Performance

Shares of Radius Recycling stock opened at $29.38 on Tuesday. The firm has a fifty day simple moving average of $27.20 and a 200-day simple moving average of $19.56. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. Radius Recycling, Inc. has a 1-year low of $10.57 and a 1-year high of $29.48. The stock has a market capitalization of $828.57 million, a price-to-earnings ratio of -2.93 and a beta of 1.04.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data on Friday, April 4th. The basic materials company reported ($0.99) earnings per share for the quarter, topping 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 business had revenue of $642.51 million during the quarter, compared to analysts’ expectations of $635.94 million. On average, sell-side analysts expect that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 21st were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Monday, April 21st. Radius Recycling’s dividend payout ratio (DPR) is currently -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.