Radius Recycling (NASDAQ:RDUS) Coverage Initiated at StockNews.com

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

Radius Recycling Trading Up 0.1 %

NASDAQ:RDUS opened at $29.43 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02. The firm has a 50-day simple moving average of $25.30 and a 200-day simple moving average of $19.03. Radius Recycling has a one year low of $10.57 and a one year high of $29.47. The firm has a market cap of $829.98 million, a P/E ratio of -2.94 and a beta of 1.07.

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

Institutional Investors Weigh In On Radius Recycling

A number of large investors have recently modified their holdings of the business. Proficio Capital Partners LLC acquired a new stake in shares of Radius Recycling during the fourth quarter worth $1,342,000. E. Ohman J or Asset Management AB increased its holdings in shares of Radius Recycling by 29.9% in the fourth quarter. E. Ohman J or Asset Management AB now owns 98,650 shares of the basic materials company’s stock valued at $1,501,000 after purchasing an additional 22,700 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Radius Recycling by 67.1% during the third quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company’s stock worth $1,537,000 after purchasing an additional 33,298 shares during the period. PEAK6 LLC purchased a new stake in Radius Recycling in the fourth quarter valued at approximately $262,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Radius Recycling in the 4th quarter worth approximately $160,000. Hedge funds and other institutional investors own 78.11% of the company’s stock.

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.