KLP Kapitalforvaltning AS Purchases Shares of 275,900 Radius Recycling, Inc. (NASDAQ:RDUS)

KLP Kapitalforvaltning AS acquired a new position in Radius Recycling, Inc. (NASDAQ:RDUS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 275,900 shares of the basic materials company’s stock, valued at approximately $4,199,000. KLP Kapitalforvaltning AS owned about 0.98% of Radius Recycling as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RDUS. Quantbot Technologies LP purchased a new position in Radius Recycling during the 4th quarter worth approximately $238,000. Inceptionr LLC raised its holdings in shares of Radius Recycling by 11.2% during the fourth quarter. Inceptionr LLC now owns 18,645 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 1,883 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Radius Recycling during the fourth quarter valued at $1,342,000. Victory Capital Management Inc. boosted its holdings in Radius Recycling by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 55,850 shares of the basic materials company’s stock valued at $850,000 after purchasing an additional 3,650 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in Radius Recycling during the 4th quarter worth about $236,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Radius Recycling in a research note on Monday, December 2nd. They issued a “neutral” rating and a $22.00 target price on the stock. StockNews.com initiated coverage on Radius Recycling in a research report on Tuesday. They issued a “sell” rating on the stock.

Radius Recycling Trading Up 0.3 %

RDUS stock opened at $29.10 on Thursday. Radius Recycling, Inc. has a 52-week low of $10.57 and a 52-week high of $29.16. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75. The firm has a market cap of $819.31 million, a P/E ratio of -2.90 and a beta of 1.67. The company’s 50-day simple moving average is $15.79 and its 200-day simple moving average is $16.70.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). The business had revenue of $656.54 million for the quarter, compared to analysts’ expectations of $665.90 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.64) EPS. As a group, equities analysts forecast that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Monday, February 3rd. Radius Recycling’s payout ratio is presently -7.49%.

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.