Radius Recycling (NASDAQ:RDUS) Hits New 1-Year High – Time to Buy?

Radius Recycling, Inc. (NASDAQ:RDUS) shares reached a new 52-week high during trading on Thursday . The company traded as high as $29.18 and last traded at $29.14, with a volume of 722091 shares changing hands. The stock had previously closed at $29.12.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Radius Recycling in a research report on Wednesday. They issued a “sell” rating on the stock.

Radius Recycling Trading Down 0.6 %

The company has a market cap of $814.81 million, a PE ratio of -2.89 and a beta of 1.67. The company’s 50 day simple moving average is $18.07 and its two-hundred day simple moving average is $17.35. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data on Friday, April 4th. The basic materials company reported ($0.99) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.09. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The firm had revenue of $642.51 million for the quarter, compared to analyst estimates of $635.94 million. As a group, sell-side analysts anticipate that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Announces Dividend

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

Hedge Funds Weigh In On Radius Recycling

Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Radius Recycling during the third quarter worth about $32,000. Point72 DIFC Ltd acquired a new stake in Radius Recycling during the 3rd quarter worth approximately $46,000. Aquatic Capital Management LLC purchased a new position in Radius Recycling in the 4th quarter valued at approximately $68,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Radius Recycling by 172.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock worth $99,000 after acquiring an additional 3,394 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Radius Recycling during the fourth quarter worth $140,000. Institutional investors and hedge funds 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.