Radius Recycling (NASDAQ:RDUS) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Radius Recycling (NASDAQ:RDUS) from a sell rating to a hold rating in a research report report published on Wednesday morning.

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

Radius Recycling Price Performance

Shares of NASDAQ:RDUS opened at $17.91 on Wednesday. Radius Recycling has a 52-week low of $16.90 and a 52-week high of $36.64. 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 business has a fifty day moving average of $20.29 and a two-hundred day moving average of $24.23.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings results on Thursday, April 4th. The basic materials company reported ($1.04) earnings per share for the quarter, beating the consensus estimate of ($1.09) by $0.05. The business had revenue of $621.06 million during the quarter, compared to analysts’ expectations of $626.35 million. Radius Recycling had a negative net margin of 2.28% and a negative return on equity of 1.73%. During the same quarter in the prior year, the company posted $0.14 EPS. The business’s revenue for the quarter was down 17.8% on a year-over-year basis. As a group, sell-side analysts predict that Radius Recycling will post -3.53 EPS 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. Shareholders of record on Monday, April 22nd will be given a $0.1875 dividend. The ex-dividend date is Friday, April 19th. This represents a $0.75 annualized dividend and a yield of 4.19%. Radius Recycling’s dividend payout ratio is presently -32.89%.

Institutional Trading of Radius Recycling

Several hedge funds have recently added to or reduced their stakes in the company. Unison Advisors LLC purchased a new stake in shares of Radius Recycling in the 1st quarter valued at approximately $226,000. Allspring Global Investments Holdings LLC purchased a new position in Radius Recycling in the first quarter valued at $367,000. Green Alpha Advisors LLC purchased a new position in Radius Recycling in the first quarter valued at $967,000. Finally, Fisher Asset Management LLC acquired a new stake in Radius Recycling in the fourth quarter valued at $4,488,000. Institutional investors and hedge funds 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.