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

Radius Recycling, Inc. (NASDAQ:RDUS)’s share price reached a new 52-week high on Monday . The company traded as high as $29.20 and last traded at $29.02, with a volume of 1574 shares. The stock had previously closed at $29.05.

Analysts Set New Price Targets

Several analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Radius Recycling in a report on Monday, December 2nd. They set a “neutral” rating and a $22.00 price objective for the company. StockNews.com lowered Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th.

Radius Recycling Price Performance

The stock has a 50 day moving average of $14.74 and a 200-day moving average of $16.41. The company has a market cap of $816.44 million, a PE ratio of -2.90 and a beta of 1.67. 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 announced its quarterly earnings results 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 company had revenue of $656.54 million for the quarter, compared to analyst estimates of $665.90 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. Radius Recycling’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.64) earnings per share. Equities analysts predict that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is presently -7.49%.

Institutional Investors Weigh In On Radius Recycling

Institutional investors have recently modified their holdings of the business. Proficio Capital Partners LLC acquired a new stake in shares of Radius Recycling during the 4th quarter valued at about $1,342,000. E. Ohman J or Asset Management AB grew its position in shares of Radius Recycling by 29.9% during the 4th quarter. E. Ohman J or Asset Management AB now owns 98,650 shares of the basic materials company’s stock valued at $1,501,000 after acquiring an additional 22,700 shares during the period. JPMorgan Chase & Co. boosted its holdings in Radius Recycling by 67.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company’s stock worth $1,537,000 after buying an additional 33,298 shares during the last quarter. Jane Street Group LLC boosted its holdings in Radius Recycling by 62.9% in the 3rd quarter. Jane Street Group LLC now owns 90,813 shares of the basic materials company’s stock worth $1,684,000 after buying an additional 35,073 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Radius Recycling by 156.2% in the 3rd quarter. Barclays PLC now owns 58,337 shares of the basic materials company’s stock worth $1,081,000 after buying an additional 35,568 shares during the last quarter. 78.11% of the stock is currently owned by institutional investors and hedge funds.

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.