Radius Recycling (NASDAQ:RDUS) Shares Gap Up – Here’s What Happened

Radius Recycling, Inc. (NASDAQ:RDUS)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $20.56, but opened at $21.60. Radius Recycling shares last traded at $21.60, with a volume of 402 shares.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Radius Recycling from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

Radius Recycling Price Performance

The business’s fifty day simple moving average is $17.98 and its 200 day simple moving average is $16.70. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92. The stock has a market cap of $558.26 million, a price-to-earnings ratio of -2.20 and a beta of 1.55.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.18. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The firm had revenue of $771.00 million during the quarter, compared to the consensus estimate of $680.80 million. During the same quarter in the prior year, the business posted $0.47 earnings per share. Radius Recycling’s revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts predict that Radius Recycling, Inc. will post -1.02 EPS for the current fiscal year.

Radius Recycling Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.77%. Radius Recycling’s dividend payout ratio (DPR) is presently -8.01%.

Insider Activity at Radius Recycling

In related news, SVP Steven Heiskell sold 17,675 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total value of $301,889.00. Following the completion of the sale, the senior vice president now directly owns 133,780 shares of the company’s stock, valued at $2,284,962.40. The trade was a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Swedbank AB acquired a new stake in shares of Radius Recycling during the 1st quarter valued at approximately $1,437,000. Caxton Associates LP acquired a new stake in shares of Radius Recycling during the first quarter worth $648,000. Price T Rowe Associates Inc. MD bought a new position in shares of Radius Recycling in the 1st quarter worth about $251,000. American Century Companies Inc. boosted its holdings in shares of Radius Recycling by 2.9% in the 2nd quarter. American Century Companies Inc. now owns 564,717 shares of the basic materials company’s stock valued at $8,623,000 after buying an additional 16,162 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Radius Recycling during the 2nd quarter valued at about $30,000. 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.