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

Radius Recycling, Inc. (NASDAQ:RDUS) reached a new 52-week high during mid-day trading on Saturday . The stock traded as high as $28.50 and last traded at $27.81, with a volume of 8522763 shares traded. The stock had previously closed at $13.66.

Wall Street Analyst Weigh In

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

Radius Recycling Stock Performance

The stock’s fifty day simple moving average is $13.11 and its 200-day simple moving average is $15.91. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $782.99 million, a PE ratio of -2.78 and a beta of 1.67.

Radius Recycling (NASDAQ:RDUS) last released its quarterly earnings data on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.67). The firm had revenue of $656.54 million during the quarter, compared to analysts’ expectations of $665.90 million. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.64) earnings per share. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors 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 2.70%. Radius Recycling’s payout ratio is -7.49%.

Hedge Funds Weigh In On Radius Recycling

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Radius Recycling in the third quarter valued at approximately $32,000. Point72 DIFC Ltd acquired a new stake in Radius Recycling during the 3rd quarter valued at $46,000. Aquatic Capital Management LLC purchased a new position in Radius Recycling during the fourth quarter worth $68,000. Point72 Asia Singapore Pte. Ltd. raised its holdings 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 during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Radius Recycling in the fourth quarter valued at $140,000. Institutional investors and hedge funds 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.