Panagora Asset Management Inc. Has $2.43 Million Stock Position in Radius Recycling, Inc. (NASDAQ:RDUS)

Panagora Asset Management Inc. reduced its position in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,791 shares of the basic materials company’s stock after selling 1,311 shares during the period. Panagora Asset Management Inc. owned approximately 0.57% of Radius Recycling worth $2,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Gladius Capital Management LP bought a new position in Radius Recycling during the second quarter worth about $29,000. Millburn Ridgefield Corp bought a new position in shares of Radius Recycling during the first quarter worth approximately $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Radius Recycling during the first quarter worth approximately $51,000. Ameritas Investment Partners Inc. acquired a new stake in Radius Recycling during the first quarter worth approximately $54,000. Finally, Shell Asset Management Co. bought a new position in Radius Recycling during the 1st quarter worth $81,000. 78.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RDUS has been the subject of a number of recent analyst reports. Seaport Res Ptn upgraded Radius Recycling from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 30th. StockNews.com cut shares of Radius Recycling from a “hold” rating to a “sell” rating in a research report on Tuesday.

Radius Recycling Stock Performance

NASDAQ RDUS opened at $15.14 on Friday. Radius Recycling, Inc. has a 1 year low of $12.69 and a 1 year high of $33.92. The firm has a market capitalization of $424.51 million, a price-to-earnings ratio of -1.56 and a beta of 1.56. 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 firm’s 50 day simple moving average is $15.63 and its 200 day simple moving average is $17.77.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Tuesday, July 2nd. The basic materials company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.07. The company had revenue of $673.92 million for the quarter, compared to analyst estimates of $693.90 million. Radius Recycling had a negative return on equity of 5.89% and a negative net margin of 10.28%. The company’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 EPS. As a group, research analysts expect that Radius Recycling, Inc. will post -3.06 earnings per share for the current fiscal year.

Radius Recycling Dividend Announcement

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

Radius Recycling 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.