Radius Recycling (NASDAQ:RDUS) Shares Gap Up – Time to Buy?

Shares of Radius Recycling, Inc. (NASDAQ:RDUS) gapped up prior to trading 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.

Wall Street Analyst Weigh In

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

Radius Recycling Stock Up 1.4 %

The company has a quick ratio of 1.00, a current ratio of 1.92 and a debt-to-equity ratio of 0.65. The stock has a 50-day simple moving average of $18.11 and a two-hundred day simple moving average of $16.73. The firm has a market cap of $552.67 million, a PE ratio of -2.11 and a beta of 1.55.

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 company had revenue of $771.00 million for the quarter, compared to analysts’ expectations of $680.80 million. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. Radius Recycling’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS. Analysts expect that Radius Recycling, Inc. will post -1.02 earnings per share for the current 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 paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Tuesday, November 12th. Radius Recycling’s dividend payout ratio is presently -8.01%.

Insider Activity

In other news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 approximately $2,284,962.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Radius Recycling

Several institutional investors have recently added to or reduced their stakes in RDUS. Gladius Capital Management LP bought a new position in shares of Radius Recycling during the second quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Radius Recycling during the 2nd quarter valued at approximately $30,000. Quarry LP purchased a new stake in Radius Recycling in the 3rd quarter worth approximately $32,000. Founders Capital Management grew its position in shares of Radius Recycling by 50.0% in the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock worth $33,000 after buying an additional 600 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its stake in shares of Radius Recycling by 23.6% during the second 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. Hedge funds and other institutional investors own 78.11% of the company’s stock.

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.