Nisa Investment Advisors LLC Increases Stake in Radius Recycling, Inc. (NASDAQ:RDUS)

Nisa Investment Advisors LLC lifted its holdings in Radius Recycling, Inc. (NASDAQ:RDUS) by 3,956.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,139 shares of the basic materials company’s stock after purchasing an additional 6,963 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Radius Recycling were worth $206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of Radius Recycling by 76.2% during the first quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 410 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in Radius Recycling in the fourth quarter valued at about $68,000. Quantinno Capital Management LP purchased a new position in Radius Recycling in the fourth quarter valued at about $181,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Radius Recycling during the fourth quarter worth about $207,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Radius Recycling during the fourth quarter worth about $238,000. 78.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on Radius Recycling in a research report on Tuesday, May 20th. They issued a “sell” rating on the stock.

Radius Recycling Price Performance

Shares of NASDAQ:RDUS opened at $30.00 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.85 and a debt-to-equity ratio of 0.85. The business has a fifty day moving average of $29.64 and a two-hundred day moving average of $23.37. The stock has a market cap of $846 million, a P/E ratio of -8.33 and a beta of 1.00. Radius Recycling, Inc. has a 52-week low of $10.57 and a 52-week high of $30.04.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings results on Tuesday, July 1st. The basic materials company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.48. Radius Recycling had a negative return on equity of 15.73% and a negative net margin of 3.69%. The business had revenue of $726.99 million during the quarter, compared to analysts’ expectations of $725.30 million. During the same period in the prior year, the business posted ($0.59) EPS. On average, research analysts expect that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Monday, July 21st will be paid a dividend of $0.1875 per share. The ex-dividend date is Monday, July 21st. This represents a $0.75 dividend on an annualized basis and a yield of 2.50%. Radius Recycling’s dividend payout ratio is presently -20.83%.

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.