E. Ohman J or Asset Management AB Raises Stake in Radius Recycling, Inc. (NASDAQ:RDUS)

E. Ohman J or Asset Management AB increased its stake in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 29.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 98,650 shares of the basic materials company’s stock after buying an additional 22,700 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Radius Recycling were worth $1,501,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its stake in shares of Radius Recycling by 1.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 33,186 shares of the basic materials company’s stock worth $615,000 after purchasing an additional 610 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Radius Recycling by 10.7% during the second quarter. The Manufacturers Life Insurance Company now owns 10,589 shares of the basic materials company’s stock valued at $162,000 after purchasing an additional 1,020 shares during the period. Quarry LP purchased a new stake in Radius Recycling in the third quarter worth $32,000. Point72 DIFC Ltd bought a new stake in shares of Radius Recycling in the third quarter valued at $46,000. Finally, Signaturefd LLC lifted its position in shares of Radius Recycling by 403.9% during the 3rd quarter. Signaturefd LLC now owns 4,092 shares of the basic materials company’s stock valued at $76,000 after buying an additional 3,280 shares during the last quarter. Institutional investors own 78.11% of the company’s stock.

Radius Recycling Price Performance

Shares of NASDAQ RDUS opened at $12.11 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. Radius Recycling, Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $25.51. The stock has a fifty day moving average of $15.16 and a 200-day moving average of $16.29.

Radius Recycling (NASDAQ:RDUS) last posted its earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The company had revenue of $656.54 million for the quarter, compared to analysts’ expectations of $665.90 million. During the same period in the previous year, the firm earned ($0.64) EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts forecast that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 6.19%. The ex-dividend date is Monday, February 3rd. Radius Recycling’s dividend payout ratio is presently -7.49%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RDUS shares. The Goldman Sachs Group started coverage on Radius Recycling in a research note on Monday, December 2nd. They issued a “neutral” rating and a $22.00 price objective on the stock. StockNews.com lowered shares of Radius Recycling from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th.

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.