ArrowMark Colorado Holdings LLC Cuts Stock Position in Radius Recycling, Inc. (NASDAQ:RDUS)

ArrowMark Colorado Holdings LLC decreased its position in shares of Radius Recycling, Inc. (NASDAQ:RDUS) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,000 shares of the basic materials company’s stock after selling 12,000 shares during the period. ArrowMark Colorado Holdings LLC owned about 0.66% of Radius Recycling worth $3,448,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Founders Capital Management lifted its position in shares of Radius Recycling by 50.0% during the third quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 600 shares in the last quarter. Gladius Capital Management LP purchased a new stake in Radius Recycling during the 2nd quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Radius Recycling during the 2nd quarter worth approximately $30,000. Banque Cantonale Vaudoise boosted its position in Radius Recycling by 23.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock valued at $45,000 after buying an additional 564 shares during the period. Finally, Signaturefd LLC boosted its position in Radius Recycling by 403.9% in the 3rd quarter. Signaturefd LLC now owns 4,092 shares of the basic materials company’s stock valued at $76,000 after buying an additional 3,280 shares during the period. 78.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Radius Recycling

In other news, SVP Steven Heiskell sold 17,675 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total transaction of $301,889.00. Following the completion of the sale, the senior vice president now owns 133,780 shares in the company, valued at approximately $2,284,962.40. The trade was a 11.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.70% of the company’s stock.

Radius Recycling Stock Performance

Shares of NASDAQ:RDUS opened at $19.66 on Tuesday. Radius Recycling, Inc. has a fifty-two week low of $12.69 and a fifty-two week high of $31.70. The firm’s 50 day moving average price is $18.30 and its 200 day moving average price is $16.75. The company has a quick ratio of 1.00, a current ratio of 1.92 and a debt-to-equity ratio of 0.65.

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

Radius Recycling Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Tuesday, November 12th. Radius Recycling’s dividend payout ratio (DPR) is -8.01%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. The Goldman Sachs Group initiated coverage on Radius Recycling in a research note on Monday. They issued a “neutral” rating and a $22.00 price objective on the stock. StockNews.com downgraded Radius Recycling from a “hold” rating to a “sell” rating in a report on Tuesday, November 26th.

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.