Radius Recycling (NASDAQ:RDUS) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Radius Recycling (NASDAQ:RDUS) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

Separately, Seaport Res Ptn raised Radius Recycling from a strong sell rating to a hold rating in a report on Thursday, May 30th.

Radius Recycling Stock Performance

RDUS stock opened at $15.14 on Tuesday. Radius Recycling has a 1 year low of $12.69 and a 1 year high of $33.92. The stock’s fifty day moving average price is $15.63 and its 200-day moving average price is $17.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.96 and a quick ratio of 0.92. The company has a market cap of $424.51 million, a P/E ratio of -1.56 and a beta of 1.56.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data on Tuesday, July 2nd. The basic materials company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $673.92 million during the quarter, compared to the consensus estimate of $693.90 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The company’s revenue for the quarter was down 16.8% compared to the same quarter last year. On average, equities analysts forecast that Radius Recycling will post -3.06 earnings per share for the current year.

Radius Recycling Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 22nd were paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date was Monday, July 22nd. Radius Recycling’s payout ratio is presently -7.72%.

Institutional Trading of Radius Recycling

A number of large investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new position in shares of Radius Recycling in the second quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Radius Recycling during the 2nd quarter valued at about $30,000. Millburn Ridgefield Corp bought a new position in shares of Radius Recycling in the 1st quarter valued at about $33,000. Banque Cantonale Vaudoise grew its position in Radius Recycling by 23.6% in the second quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 564 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Radius Recycling during the first quarter worth approximately $51,000. 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.