Radius Recycling (NASDAQ:RDUS) Reaches New 1-Year High – Still a Buy?

Shares of Radius Recycling, Inc. (NASDAQ:RDUS) hit a new 52-week high during trading on Monday . The company traded as high as $29.20 and last traded at $29.02, with a volume of 1574 shares trading hands. The stock had previously closed at $29.05.

Analysts Set New Price Targets

RDUS has been the subject of a number of recent analyst reports. The Goldman Sachs Group started coverage on Radius Recycling in a research note on Monday, December 2nd. They issued a “neutral” rating and a $22.00 price target for the company. StockNews.com downgraded Radius Recycling from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th.

Radius Recycling Stock Performance

The company has a market capitalization of $816.44 million, a P/E ratio of -2.90 and a beta of 1.67. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97. The company has a fifty day moving average price of $14.74 and a two-hundred day moving average price of $16.41.

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 the consensus estimate of ($0.66) by ($0.67). Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The business had revenue of $656.54 million during the quarter, compared to analyst estimates of $665.90 million. During the same period last year, the firm posted ($0.64) earnings per share. Radius Recycling’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts forecast that Radius Recycling, Inc. will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a $0.1875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $0.75 dividend on an annualized basis and a yield of 2.59%. Radius Recycling’s dividend payout ratio (DPR) is presently -7.49%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RDUS. Proficio Capital Partners LLC purchased a new stake in shares of Radius Recycling in the 4th quarter valued at about $1,342,000. E. Ohman J or Asset Management AB lifted its stake in shares of Radius Recycling by 29.9% in the 4th quarter. E. Ohman J or Asset Management AB now owns 98,650 shares of the basic materials company’s stock valued at $1,501,000 after purchasing an additional 22,700 shares during the period. JPMorgan Chase & Co. raised its stake in Radius Recycling by 67.1% during the third quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company’s stock valued at $1,537,000 after buying an additional 33,298 shares during the last quarter. Jane Street Group LLC raised its stake in Radius Recycling by 62.9% during the third quarter. Jane Street Group LLC now owns 90,813 shares of the basic materials company’s stock valued at $1,684,000 after buying an additional 35,073 shares during the last quarter. Finally, Barclays PLC raised its stake in Radius Recycling by 156.2% during the third quarter. Barclays PLC now owns 58,337 shares of the basic materials company’s stock valued at $1,081,000 after buying an additional 35,568 shares during the last quarter. 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.