Radius Recycling (NASDAQ:RDUS) Reaches New 12-Month High – Here’s What Happened

Radius Recycling, Inc. (NASDAQ:RDUS) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $29.18 and last traded at $29.14, with a volume of 722091 shares trading hands. The stock had previously closed at $29.12.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Radius Recycling in a research report on Wednesday. They set a “sell” rating on the stock.

Radius Recycling Stock Performance

The stock has a market cap of $814.81 million, a PE ratio of -2.89 and a beta of 1.67. The firm’s 50-day moving average is $18.07 and its 200 day moving average is $17.35. 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 earnings results on Friday, April 4th. The basic materials company reported ($0.99) EPS for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.09. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The business had revenue of $642.51 million during the quarter, compared to analysts’ expectations of $635.94 million. As a group, research analysts anticipate 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 Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is presently -7.49%.

Hedge Funds Weigh In On Radius Recycling

Institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in shares of Radius Recycling in the fourth quarter valued at about $1,342,000. E. Ohman J or Asset Management AB boosted 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 valued at $1,501,000 after purchasing an additional 22,700 shares in the last quarter. JPMorgan Chase & Co. increased its position in Radius Recycling by 67.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company’s stock worth $1,537,000 after purchasing an additional 33,298 shares during the period. Jane Street Group LLC raised its stake in shares of Radius Recycling by 62.9% during 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 in the last quarter. Finally, Barclays PLC raised its stake in shares of Radius Recycling by 156.2% during 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 in the last quarter. 78.11% of the stock is owned by institutional investors and hedge funds.

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.