Radius Recycling (NASDAQ:RDUS) Sets New 52-Week High – Here’s Why

Radius Recycling, Inc. (NASDAQ:RDUS) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $29.29 and last traded at $29.21, with a volume of 552528 shares traded. The stock had previously closed at $29.19.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Radius Recycling in a report on Saturday. They issued a “sell” rating on the stock.

Radius Recycling Trading Up 0.8 %

The firm has a 50 day moving average price of $24.33 and a two-hundred day moving average price of $18.78. The firm has a market capitalization of $830.27 million, a P/E ratio of -2.94 and a beta of 1.07. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02.

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, topping analysts’ consensus estimates 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 firm had revenue of $642.51 million for the quarter, compared to analysts’ expectations of $635.94 million. On average, equities research analysts expect that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 21st will be given a $0.1875 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $0.75 annualized dividend and a dividend yield of 2.55%. Radius Recycling’s dividend payout ratio (DPR) is presently -7.52%.

Hedge Funds Weigh In On Radius Recycling

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDUS. GAMMA Investing LLC boosted its stake in shares of Radius Recycling by 76.2% during the 1st quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company’s stock valued at $27,000 after buying an additional 410 shares during the period. Wellington Management Group LLP grew its stake in Radius Recycling by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 88,129 shares of the basic materials company’s stock valued at $1,341,000 after purchasing an additional 760 shares in the last quarter. Invesco Ltd. grew its stake in shares of Radius Recycling by 1.3% in the 4th quarter. Invesco Ltd. now owns 110,932 shares of the basic materials company’s stock valued at $1,688,000 after buying an additional 1,473 shares in the last quarter. Inceptionr LLC raised its position in Radius Recycling by 11.2% during the fourth quarter. Inceptionr LLC now owns 18,645 shares of the basic materials company’s stock valued at $284,000 after acquiring an additional 1,883 shares in the last quarter. Finally, E. Ohman J or Asset Management AB lifted its stake in Radius Recycling by 2.6% in the first quarter. E. Ohman J or Asset Management AB now owns 101,198 shares of the basic materials company’s stock valued at $2,923,000 after acquiring an additional 2,548 shares during the last quarter. 78.11% of the stock is currently owned by hedge funds and other institutional investors.

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.