Radius Recycling, Inc. (NASDAQ:RDUS) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. trimmed its stake in Radius Recycling, Inc. (NASDAQ:RDUS) by 43.4% in the third quarter, Holdings Channel.com reports. The firm owned 4,700 shares of the basic materials company’s stock after selling 3,602 shares during the quarter. Point72 Asset Management L.P.’s holdings in Radius Recycling were worth $87,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RDUS. Price T Rowe Associates Inc. MD purchased a new stake in shares of Radius Recycling during the 1st quarter valued at $251,000. California State Teachers Retirement System purchased a new stake in Radius Recycling during the first quarter valued at about $555,000. Gladius Capital Management LP acquired a new stake in Radius Recycling during the second quarter worth about $29,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Radius Recycling by 78.3% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 97,088 shares of the basic materials company’s stock worth $1,483,000 after purchasing an additional 42,636 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Radius Recycling by 31.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,422 shares of the basic materials company’s stock valued at $266,000 after purchasing an additional 4,145 shares in the last quarter. Institutional investors and hedge funds own 78.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Radius Recycling from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group assumed coverage on shares of Radius Recycling in a report on Monday, December 2nd. They set a “neutral” rating and a $22.00 target price on the stock.

Radius Recycling Stock Performance

Radius Recycling stock opened at $17.49 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92. Radius Recycling, Inc. has a one year low of $12.69 and a one year high of $31.70. The stock’s 50 day moving average price is $18.40 and its 200 day moving average price is $16.83. The firm has a market capitalization of $490.42 million, a PE ratio of -1.87 and a beta of 1.59.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.18. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The firm had revenue of $771.00 million for the quarter, compared to the consensus estimate of $680.80 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts expect that Radius Recycling, Inc. will post -1.02 EPS for the current fiscal year.

Radius Recycling Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Tuesday, November 12th. Radius Recycling’s dividend payout ratio (DPR) is -8.01%.

Insider Activity at Radius Recycling

In other news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total transaction of $301,889.00. Following the completion of the transaction, the senior vice president now directly owns 133,780 shares in the company, valued at approximately $2,284,962.40. This represents a 11.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.70% of the stock is currently owned by company insiders.

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.