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 published on Wednesday.

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

Radius Recycling Stock Down 1.3 %

NASDAQ RDUS opened at $17.90 on Wednesday. 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’s 50 day moving average is $20.03 and its 200 day moving average is $24.14. Radius Recycling has a twelve month low of $16.90 and a twelve month high of $36.64.

Radius Recycling (NASDAQ:RDUS) last released its earnings results on Thursday, April 4th. The basic materials company reported ($1.04) EPS for the quarter, topping the consensus estimate 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 business had revenue of $621.06 million for the quarter, compared to the consensus estimate of $626.35 million. During the same period in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was down 17.8% compared to the same quarter last year. On average, equities analysts predict that Radius Recycling will post -3.53 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 22nd will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend 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 currently -32.89%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RDUS. Fisher Asset Management LLC purchased a new position in shares of Radius Recycling in the fourth quarter worth $4,488,000. Green Alpha Advisors LLC purchased a new position in shares of Radius Recycling in the first quarter worth $967,000. Unison Advisors LLC purchased a new position in shares of Radius Recycling in the first quarter worth $226,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Radius Recycling in the first quarter worth $367,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of Radius Recycling in the first quarter worth $33,000. Hedge funds and other 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.