Radius Recycling (NASDAQ:RDUS) Now Covered by StockNews.com

Analysts at StockNews.com initiated coverage on shares of Radius Recycling (NASDAQ:RDUS) in a research note issued to investors on Sunday. The brokerage set a “sell” rating on the basic materials company’s stock.

Radius Recycling Stock Performance

RDUS stock opened at $29.43 on Friday. The business has a 50 day moving average of $25.62 and a 200-day moving average of $19.11. The firm has a market cap of $829.98 million, a PE ratio of -2.94 and a beta of 1.07. Radius Recycling has a 12-month low of $10.57 and a 12-month high of $29.48. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.08) by $0.09. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The company had revenue of $642.51 million during the quarter, compared to analyst estimates of $635.94 million. As a group, sell-side analysts expect that Radius Recycling will post -3.84 earnings per share for the current year.

Institutional Investors Weigh In On Radius Recycling

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new position in shares of Radius Recycling in the first quarter worth about $456,000. CWM LLC boosted its holdings in Radius Recycling by 160.3% in the 1st quarter. CWM LLC now owns 6,431 shares of the basic materials company’s stock worth $186,000 after buying an additional 3,960 shares during the period. Cerity Partners LLC purchased a new position in Radius Recycling in the 1st quarter valued at approximately $345,000. Nisa Investment Advisors LLC raised its holdings in Radius Recycling by 3,956.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 7,139 shares of the basic materials company’s stock valued at $206,000 after acquiring an additional 6,963 shares during the period. Finally, Perpetual Ltd raised its holdings in Radius Recycling by 159.6% during the 1st quarter. Perpetual Ltd now owns 342,466 shares of the basic materials company’s stock valued at $9,890,000 after acquiring an additional 210,561 shares during the period. 78.11% of the stock is currently owned by institutional investors.

About Radius Recycling

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.