Insider Selling: Radius Recycling, Inc. (NASDAQ:RDUS) CFO Sells $18,959.97 in Stock

Radius Recycling, Inc. (NASDAQ:RDUS) CFO Stefano R. Gaggini sold 1,021 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $18.57, for a total value of $18,959.97. Following the sale, the chief financial officer now owns 76,255 shares of the company’s stock, valued at approximately $1,416,055.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Radius Recycling Stock Up 3.3 %

NASDAQ:RDUS opened at $18.21 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.96 and a debt-to-equity ratio of 0.43. Radius Recycling, Inc. has a 12-month low of $16.84 and a 12-month high of $36.64. The stock’s fifty day simple moving average is $18.93 and its 200-day simple moving average is $23.56. The firm has a market capitalization of $509.55 million, a P/E ratio of -7.99 and a beta of 1.64.

Radius Recycling (NASDAQ:RDUS) last issued its earnings results 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. The firm had revenue of $621.06 million for the quarter, compared to analysts’ expectations of $626.35 million. Radius Recycling had a negative return on equity of 1.73% and a negative net margin of 2.28%. The company’s revenue was down 17.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 earnings per share. Equities research analysts expect that Radius Recycling, Inc. will post -3.53 earnings per share for the current year.

Radius Recycling Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 22nd were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Friday, April 19th. Radius Recycling’s payout ratio is presently -32.89%.

Institutional Investors Weigh In On Radius Recycling

Several hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB bought a new stake in shares of Radius Recycling in the 1st quarter valued at $3,959,000. Russell Investments Group Ltd. bought a new stake in shares of Radius Recycling in the first quarter worth about $3,884,000. Fisher Asset Management LLC acquired a new stake in shares of Radius Recycling during the fourth quarter worth about $4,488,000. Empowered Funds LLC acquired a new stake in shares of Radius Recycling during the first quarter worth about $2,363,000. Finally, Sei Investments Co. bought a new position in shares of Radius Recycling during the 1st quarter valued at about $1,649,000. 78.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RDUS. Seaport Res Ptn cut Radius Recycling from a “neutral” rating to a “sell” rating in a report on Wednesday, February 28th. StockNews.com downgraded shares of Radius Recycling from a “hold” rating to a “sell” rating in a research note on Thursday, May 2nd.

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.