Radius Recycling (NASDAQ:RDUS) Releases Earnings Results, Beats Estimates By $0.05 EPS

Radius Recycling (NASDAQ:RDUS) announced its quarterly earnings data on Thursday. The basic materials company reported ($1.04) EPS for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.05, Briefing.com reports. Radius Recycling had a negative net margin of 2.28% and a negative return on equity of 1.70%. The company had revenue of $621.06 million during the quarter, compared to the consensus estimate of $626.35 million. During the same quarter last year, the firm posted $0.14 EPS. The company’s quarterly revenue was down 17.8% on a year-over-year basis.

Radius Recycling Stock Performance

Shares of RDUS stock traded up $0.37 during midday trading on Friday, hitting $19.98. 221,973 shares of the company were exchanged, compared to its average volume of 245,246. The firm has a market capitalization of $556.64 million, a P/E ratio of -8.76 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 1.75. The firm’s 50 day moving average price is $21.95 and its two-hundred day moving average price is $25.03. Radius Recycling has a 52 week low of $17.04 and a 52 week high of $36.64.

Radius Recycling Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors 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 dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, April 19th. Radius Recycling’s payout ratio is -32.89%.

Institutional Trading of Radius Recycling

Several hedge funds and other institutional investors have recently bought and sold shares of RDUS. BlackRock Inc. raised its stake in Radius Recycling by 19.5% in the 1st quarter. BlackRock Inc. now owns 3,216,557 shares of the basic materials company’s stock worth $100,035,000 after purchasing an additional 524,126 shares in the last quarter. State Street Corp raised its position in shares of Radius Recycling by 36.2% in the 1st quarter. State Street Corp now owns 1,521,234 shares of the basic materials company’s stock valued at $79,013,000 after buying an additional 404,669 shares in the last quarter. Millennium Management LLC raised its position in shares of Radius Recycling by 274.4% in the 4th quarter. Millennium Management LLC now owns 386,848 shares of the basic materials company’s stock valued at $11,857,000 after buying an additional 283,518 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Radius Recycling by 18.0% in the 1st quarter. Ameriprise Financial Inc. now owns 1,545,045 shares of the basic materials company’s stock valued at $48,051,000 after buying an additional 235,600 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Radius Recycling by 1,855.0% in the 1st quarter. Allianz Asset Management GmbH now owns 161,935 shares of the basic materials company’s stock valued at $8,411,000 after buying an additional 153,652 shares in the last quarter. Institutional investors and hedge funds own 78.11% of the company’s stock.

Analysts Set New Price Targets

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

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.