Radius Recycling (NASDAQ:RDUS) Hits New 1-Year High – Here’s What Happened

Radius Recycling, Inc. (NASDAQ:RDUS)’s stock price reached a new 52-week high on Monday . The stock traded as high as $29.72 and last traded at $29.58, with a volume of 727673 shares trading hands. The stock had previously closed at $29.61.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on shares of Radius Recycling in a report on Tuesday, May 20th. They set a “sell” rating for the company.

Radius Recycling Stock Performance

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 stock has a market capitalization of $836.05 million, a PE ratio of -2.96 and a beta of 1.04. The firm’s fifty day moving average price is $29.21 and its two-hundred day moving average price is $20.67.

Radius Recycling (NASDAQ:RDUS) last posted its 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. The firm had revenue of $642.51 million during the quarter, compared to analyst estimates of $635.94 million. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. As a group, equities research analysts forecast that Radius Recycling, Inc. will post -3.84 EPS for the current year.

Radius Recycling Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 21st were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.53%. The ex-dividend date was Monday, April 21st. Radius Recycling’s payout ratio is presently -7.52%.

Institutional Investors Weigh In On Radius Recycling

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its holdings in Radius Recycling by 15.7% in the 4th quarter. Barclays PLC now owns 67,523 shares of the basic materials company’s stock worth $1,027,000 after acquiring an additional 9,186 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Radius Recycling in the 4th quarter worth $1,342,000. E. Ohman J or Asset Management AB increased its holdings in 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 worth $1,501,000 after acquiring an additional 22,700 shares in the last quarter. PEAK6 LLC purchased a new stake in Radius Recycling in the 4th quarter worth $262,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Radius Recycling in the 4th quarter worth $160,000. 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.