Victory Capital Management Inc. Sells 35,850 Shares of Radius Recycling, Inc. (NASDAQ:RDUS)

Victory Capital Management Inc. decreased its position in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 64.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the basic materials company’s stock after selling 35,850 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Radius Recycling worth $578,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Radius Recycling by 92.5% in the fourth 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. Orion Portfolio Solutions LLC raised its holdings in shares of Radius Recycling by 24.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 42,744 shares of the basic materials company’s stock valued at $651,000 after purchasing an additional 8,406 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Radius Recycling in the 4th quarter worth approximately $1,964,000. Wells Fargo & Company MN lifted its position in shares of Radius Recycling by 16.5% in the 4th quarter. Wells Fargo & Company MN now owns 20,986 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 2,968 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Radius Recycling by 1.3% during the fourth quarter. Invesco Ltd. now owns 110,932 shares of the basic materials company’s stock valued at $1,688,000 after purchasing an additional 1,473 shares in the last quarter. Institutional investors own 78.11% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on shares of Radius Recycling in a research note on Tuesday, May 20th. They issued a “sell” rating for the company.

Radius Recycling Stock Performance

RDUS opened at $30.00 on Friday. The company has a current ratio of 1.85, a quick ratio of 0.97 and a debt-to-equity ratio of 0.85. The firm has a market cap of $846 million, a price-to-earnings ratio of -8.33 and a beta of 1.00. Radius Recycling, Inc. has a 12 month low of $10.57 and a 12 month high of $30.04. The stock has a fifty day moving average price of $29.76 and a 200-day moving average price of $24.64.

Radius Recycling (NASDAQ:RDUS) last posted its earnings results on Tuesday, July 1st. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.48. The company had revenue of $726.99 million for the quarter, compared to analyst estimates of $725.30 million. Radius Recycling had a negative return on equity of 15.73% and a negative net margin of 3.69%. During the same quarter in the previous year, the firm earned ($0.59) earnings per share. As a group, equities 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 announced a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Monday, July 21st will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.75 dividend on an annualized basis and a yield of 2.5%. Radius Recycling’s dividend payout ratio is presently -20.83%.

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.