Posted by Defense World Staff on Apr 6th, 2024
StockNews.com downgraded shares of Radius Recycling (NASDAQ:RDUS – Free Report) from a hold rating to a sell rating in a report published on Friday morning.
Separately, Seaport Res Ptn lowered Radius Recycling from a neutral rating to a sell rating in a report on Wednesday, February 28th.
Read Our Latest Analysis on RDUS
Radius Recycling Stock Performance
Shares of RDUS opened at $19.98 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 0.31. Radius Recycling has a one year low of $17.04 and a one year high of $36.64. The business has a fifty day moving average of $21.95 and a 200 day moving average of $25.03.
Radius Recycling (NASDAQ:RDUS – Get Free Report) last issued its quarterly earnings data 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 1.70% and a negative net margin of 2.28%. The company had revenue of $621.06 million during the quarter, compared to analyst estimates of $626.35 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. Radius Recycling’s revenue was down 17.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Radius Recycling will post -3.53 earnings per share for the current fiscal year.
Radius Recycling Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, April 19th. Radius Recycling’s dividend payout ratio is presently -32.89%.
Institutional Trading of Radius Recycling
Hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors grew its holdings in Radius Recycling by 357.0% during the second quarter. Captrust Financial Advisors now owns 754 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 589 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Radius Recycling by 123.4% in the first quarter. Tower Research Capital LLC TRC now owns 849 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 469 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Radius Recycling in the second quarter valued at about $45,000. Point72 Middle East FZE purchased a new position in shares of Radius Recycling in the second quarter valued at about $54,000. Finally, Citigroup Inc. lifted its position in shares of Radius Recycling by 120.0% in the first quarter. Citigroup Inc. now owns 1,883 shares of the basic materials company’s stock valued at $59,000 after acquiring an additional 1,027 shares in the last quarter. 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.
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