Radius Recycling (NASDAQ:RDUS) Hits New 12-Month High – What’s Next?

Radius Recycling, Inc. (NASDAQ:RDUS) shares hit a new 52-week high on Monday . The company traded as high as $29.21 and last traded at $29.17, with a volume of 112346 shares traded. The stock had previously closed at $28.92.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Radius Recycling in a research note on Friday. They issued a “sell” rating on the stock.

Radius Recycling Price Performance

The company’s 50 day simple moving average is $22.05 and its 200-day simple moving average is $18.26. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $822.09 million, a price-to-earnings ratio of -2.91 and a beta of 1.07.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.08) by $0.09. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The company had revenue of $642.51 million during the quarter, compared to the consensus estimate of $635.94 million. On average, equities research analysts predict that Radius Recycling, Inc. will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 21st will be given a dividend of $0.1875 per share. The ex-dividend date is Monday, April 21st. This represents a $0.75 annualized dividend and a yield of 2.57%. Radius Recycling’s dividend payout ratio (DPR) is presently -7.52%.

Institutional Trading of Radius Recycling

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDUS. GAMMA Investing LLC grew its holdings in Radius Recycling by 76.2% in the first quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 410 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of Radius Recycling in the 4th quarter valued at $68,000. SG Americas Securities LLC purchased a new stake in shares of Radius Recycling during the 4th quarter valued at $140,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Radius Recycling during the 4th quarter worth $160,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Radius Recycling in the 4th quarter worth $181,000. Hedge funds and other institutional investors own 78.11% of the company’s stock.

About Radius Recycling

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.