Radius Recycling, Inc. (NASDAQ:RDUS) Stock Position Decreased by MetLife Investment Management LLC

MetLife Investment Management LLC cut its stake in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,871 shares of the basic materials company’s stock after selling 1,595 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of Radius Recycling worth $226,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Icon Advisers Inc. Co. raised its holdings in Radius Recycling by 115.9% during the 4th quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company’s stock worth $4,338,000 after buying an additional 153,000 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Radius Recycling during the fourth quarter valued at approximately $4,199,000. JPMorgan Chase & Co. lifted its position in shares of Radius Recycling by 92.5% in the 4th quarter. JPMorgan Chase & Co. now owns 159,621 shares of the basic materials company’s stock valued at $2,429,000 after acquiring an additional 76,702 shares in the last quarter. Empowered Funds LLC boosted its stake in Radius Recycling by 5.1% in the 4th quarter. Empowered Funds LLC now owns 133,356 shares of the basic materials company’s stock worth $2,030,000 after purchasing an additional 6,472 shares during the period. Finally, Perpetual Ltd grew its position in Radius Recycling by 9.2% during the 4th quarter. Perpetual Ltd now owns 131,905 shares of the basic materials company’s stock worth $2,008,000 after purchasing an additional 11,060 shares in the last quarter. 78.11% of the stock is owned by hedge funds and other institutional investors.

Radius Recycling Stock Performance

RDUS stock opened at $29.38 on Friday. The stock has a market cap of $828.57 million, a P/E ratio of -2.93 and a beta of 1.04. 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 $26.57 and a 200 day simple moving average of $19.34. Radius Recycling, Inc. has a 52 week low of $10.57 and a 52 week high of $29.48.

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

Radius Recycling Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 21st were issued a $0.1875 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $0.75 dividend on an annualized basis and a yield of 2.55%. Radius Recycling’s dividend payout ratio is currently -7.52%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Radius Recycling in a report on Sunday, May 4th. They issued a “sell” rating for the company.

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.