Radius Recycling (NASDAQ:RDUS) Shares Gap Up to $17.43

Radius Recycling, Inc. (NASDAQ:RDUS) shares gapped up prior to trading on Wednesday . The stock had previously closed at $17.43, but opened at $17.78. Radius Recycling shares last traded at $17.98, with a volume of 32,811 shares trading hands.

Analyst Ratings Changes

RDUS has been the subject of several research analyst reports. Seaport Res Ptn lowered Radius Recycling from a “neutral” rating to a “sell” rating in a research report on Wednesday, February 28th. StockNews.com downgraded Radius Recycling from a “hold” rating to a “sell” rating in a research report on Friday, April 5th.

Radius Recycling Trading Up 0.3 %

The company has a market cap of $519.59 million, a P/E ratio of -8.12 and a beta of 1.60. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $20.68 and a 200-day moving average price of $24.46.

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 analysts’ consensus estimates of ($1.09) by $0.05. Radius Recycling had a negative return on equity of 1.73% and a negative net margin of 2.28%. The business had revenue of $621.06 million for the quarter, compared to analysts’ expectations of $626.35 million. During the same quarter in the prior year, the business earned $0.14 EPS. The firm’s revenue for the quarter was down 17.8% on a year-over-year basis. Analysts forecast that Radius Recycling, Inc. will post -3.53 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 22nd will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Friday, April 19th. Radius Recycling’s payout ratio is -32.89%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Radius Recycling by 19.5% during the 1st quarter. BlackRock Inc. now owns 3,216,557 shares of the basic materials company’s stock worth $100,035,000 after buying an additional 524,126 shares during the period. Vanguard Group Inc. increased its position in Radius Recycling by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,722,756 shares of the basic materials company’s stock worth $77,489,000 after buying an additional 43,304 shares during the period. Dimensional Fund Advisors LP increased its position in Radius Recycling by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,283,655 shares of the basic materials company’s stock worth $71,021,000 after buying an additional 82,346 shares during the period. Ameriprise Financial Inc. increased its position in Radius Recycling by 18.0% during the 1st quarter. Ameriprise Financial Inc. now owns 1,545,045 shares of the basic materials company’s stock worth $48,051,000 after buying an additional 235,600 shares during the period. Finally, State Street Corp increased its position in Radius Recycling by 36.2% during the 1st quarter. State Street Corp now owns 1,521,234 shares of the basic materials company’s stock worth $79,013,000 after buying an additional 404,669 shares during the period. 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.