PDT Partners LLC Buys 11,885 Shares of Radius Recycling, Inc. (NASDAQ:RDUS)

PDT Partners LLC grew its stake in Radius Recycling, Inc. (NASDAQ:RDUS) by 26.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,610 shares of the basic materials company’s stock after purchasing an additional 11,885 shares during the quarter. PDT Partners LLC’s holdings in Radius Recycling were worth $1,068,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of RDUS. Vanguard Group Inc. raised its stake in Radius Recycling by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,622,968 shares of the basic materials company’s stock worth $55,423,000 after buying an additional 23,199 shares in the last quarter. FMR LLC grew its holdings in shares of Radius Recycling by 23.7% during the 3rd quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock worth $17,638,000 after acquiring an additional 182,435 shares during the period. American Century Companies Inc. raised its position 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 worth $8,623,000 after acquiring an additional 16,162 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Radius Recycling by 4.7% during the second quarter. Acadian Asset Management LLC now owns 345,134 shares of the basic materials company’s stock valued at $5,267,000 after purchasing an additional 15,644 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Radius Recycling by 5.3% in the third quarter. Empowered Funds LLC now owns 126,884 shares of the basic materials company’s stock worth $2,352,000 after purchasing an additional 6,432 shares during the period. 78.11% of the stock is owned by hedge funds and other institutional investors.

Radius Recycling Price Performance

RDUS stock opened at $19.82 on Monday. 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 firm has a 50 day moving average price of $18.25 and a 200-day moving average price of $16.76. Radius Recycling, Inc. has a 52-week low of $12.69 and a 52-week high of $31.70. The firm has a market capitalization of $555.75 million, a price-to-earnings ratio of -2.12 and a beta of 1.55.

Radius Recycling (NASDAQ:RDUS) last released its earnings results on Thursday, October 24th. The basic materials company reported ($0.41) EPS for the quarter, topping the consensus estimate 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 business had revenue of $771.00 million for the quarter, compared to the consensus estimate of $680.80 million. During the same period in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts forecast that Radius Recycling, Inc. will post -1.02 EPS for the current fiscal year.

Radius Recycling Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.1875 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.75 dividend on an annualized basis and a yield of 3.78%. Radius Recycling’s dividend payout ratio is currently -8.01%.

Insiders Place Their Bets

In related news, SVP Steven Heiskell sold 17,675 shares of the firm’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 of the company’s stock, valued at $2,284,962.40. This trade represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Radius Recycling from a “hold” rating to a “sell” rating in a report on Tuesday, November 26th.

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.