Radius Recycling (NASDAQ:RDUS) Shares Gap Up – Still a Buy?

Radius Recycling, Inc. (NASDAQ:RDUS)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $20.56, but opened at $21.60. Radius Recycling shares last traded at $21.60, with a volume of 402 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Radius Recycling from a “sell” rating to a “hold” rating in a research report on Friday, November 8th.

Radius Recycling Stock Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92. The stock’s fifty day moving average is $17.98 and its two-hundred day moving average is $16.70. The firm has a market cap of $558.26 million, a price-to-earnings ratio of -2.20 and a beta of 1.55.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.18. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The company had revenue of $771.00 million for the quarter, compared to analysts’ expectations of $680.80 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts expect that Radius Recycling, Inc. will post -1.02 earnings per share for the current fiscal year.

Radius Recycling Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.1875 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.75 dividend on an annualized basis and a yield of 3.77%. Radius Recycling’s dividend payout ratio (DPR) is presently -8.01%.

Insider Activity

In other news, SVP Steven Heiskell sold 17,675 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total value of $301,889.00. Following the completion of the sale, the senior vice president now directly owns 133,780 shares of the company’s stock, valued at approximately $2,284,962.40. This represents a 11.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Radius Recycling

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new position in shares of Radius Recycling during the 2nd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Radius Recycling during the second quarter worth about $30,000. Quarry LP bought a new stake in Radius Recycling in the third quarter worth about $32,000. Founders Capital Management lifted its holdings in Radius Recycling by 50.0% in the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in shares of Radius Recycling by 23.6% during the 2nd quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 564 shares in the last quarter. 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.