Sprott Inc. Cuts Position in Radius Recycling, Inc. (NASDAQ:RDUS)

Sprott Inc. reduced its position in Radius Recycling, Inc. (NASDAQ:RDUS) by 46.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,000 shares of the basic materials company’s stock after selling 140,000 shares during the period. Sprott Inc. owned approximately 0.57% of Radius Recycling worth $2,435,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FMR LLC increased its holdings in Radius Recycling by 23.7% in the 3rd quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock valued at $17,638,000 after purchasing an additional 182,435 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Radius Recycling by 6.0% during the third quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company’s stock valued at $11,936,000 after purchasing an additional 36,618 shares during the period. Systematic Financial Management LP lifted its position in shares of Radius Recycling by 8.5% during the third quarter. Systematic Financial Management LP now owns 630,962 shares of the basic materials company’s stock worth $11,698,000 after purchasing an additional 49,450 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Radius Recycling by 5.1% in the fourth quarter. Empowered Funds LLC now owns 133,356 shares of the basic materials company’s stock valued at $2,030,000 after purchasing an additional 6,472 shares during the period. Finally, Perpetual Ltd increased its stake in Radius Recycling by 9.2% during the 4th quarter. Perpetual Ltd now owns 131,905 shares of the basic materials company’s stock worth $2,008,000 after buying an additional 11,060 shares during the period. Hedge funds and other institutional investors own 78.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com cut shares of Radius Recycling from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. The Goldman Sachs Group initiated coverage on Radius Recycling in a report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 price target for the company.

Radius Recycling Stock Down 0.1 %

Shares of NASDAQ:RDUS opened at $13.21 on Wednesday. The firm has a market cap of $371.93 million, a PE ratio of -1.32 and a beta of 1.60. The company has a fifty day simple moving average of $13.31 and a 200 day simple moving average of $15.90. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. Radius Recycling, Inc. has a 12-month low of $10.57 and a 12-month high of $24.42.

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

Radius Recycling Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 5.68%. The ex-dividend date was Monday, February 3rd. Radius Recycling’s payout ratio is currently -7.49%.

Radius Recycling Company 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.