IQ EQ FUND MANAGEMENT IRELAND Ltd Grows Stock Position in Radius Recycling, Inc. (NASDAQ:RDUS)

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 78.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,088 shares of the basic materials company’s stock after purchasing an additional 42,636 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.35% of Radius Recycling worth $1,483,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RDUS. Fisher Asset Management LLC purchased a new stake in Radius Recycling during the 4th quarter worth $4,488,000. Green Alpha Advisors LLC acquired a new position in shares of Radius Recycling in the first quarter worth about $967,000. Unison Advisors LLC purchased a new position in Radius Recycling in the first quarter valued at about $226,000. Allspring Global Investments Holdings LLC acquired a new stake in Radius Recycling during the 1st quarter valued at approximately $367,000. Finally, Millburn Ridgefield Corp purchased a new stake in Radius Recycling during the 1st quarter worth approximately $33,000. 78.11% of the stock is owned by institutional investors and hedge funds.

Radius Recycling Stock Up 0.5 %

Shares of RDUS stock traded up $0.08 during trading hours on Thursday, hitting $15.12. 121,092 shares of the company were exchanged, compared to its average volume of 229,704. 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, Inc. has a one year low of $12.69 and a one year high of $33.92. The business’s 50-day simple moving average is $15.62 and its two-hundred day simple moving average is $17.84. The stock has a market capitalization of $423.95 million, a price-to-earnings ratio of -1.56 and a beta of 1.56.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Tuesday, July 2nd. The basic materials company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.07. Radius Recycling had a negative net margin of 10.28% and a negative return on equity of 5.89%. The business had revenue of $673.92 million for the quarter, compared to analysts’ expectations of $693.90 million. During the same quarter last year, the company posted $0.67 earnings per share. The company’s quarterly revenue was down 16.8% compared to the same quarter last year. Sell-side analysts predict that Radius Recycling, Inc. will post -3.06 EPS for the current fiscal year.

Radius Recycling Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 22nd were given a dividend of $0.1875 per share. The ex-dividend date was Monday, July 22nd. This represents a $0.75 annualized dividend and a dividend yield of 4.96%. Radius Recycling’s payout ratio is -7.72%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RDUS shares. Seaport Res Ptn upgraded Radius Recycling from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 30th. StockNews.com downgraded shares of Radius Recycling from a “hold” rating to a “sell” rating in a research note on Tuesday.

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.