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 $29.20 and last traded at $29.02, with a volume of 1574 shares trading hands. The stock had previously closed at $29.05.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group started coverage on Radius Recycling in a research note on Monday, December 2nd. They issued a “neutral” rating and a $22.00 price objective for the company. StockNews.com assumed coverage on shares of Radius Recycling in a report on Tuesday. They set a “sell” rating for the company.

Radius Recycling Trading Up 0.0 %

The business has a 50-day moving average of $15.44 and a 200-day moving average of $16.61. 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 stock has a market cap of $816.78 million, a price-to-earnings ratio of -2.90 and a beta of 1.67.

Radius Recycling (NASDAQ:RDUS) last announced its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.67). Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The firm had revenue of $656.54 million for the quarter, compared to analyst estimates of $665.90 million. During the same quarter in the prior year, the firm earned ($0.64) earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, research analysts forecast that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.75 annualized dividend and a dividend yield of 2.59%. Radius Recycling’s dividend payout ratio (DPR) is -7.49%.

Institutional Investors Weigh In On Radius Recycling

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in Radius Recycling during the third quarter worth $32,000. Point72 DIFC Ltd bought a new stake in Radius Recycling during the third quarter valued at about $46,000. Aquatic Capital Management LLC acquired a new stake in shares of Radius Recycling in the fourth quarter valued at about $68,000. Point72 Asia Singapore Pte. Ltd. increased its stake 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 purchasing an additional 3,394 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Radius Recycling during the 4th quarter worth about $140,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

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.