Radius Recycling (NASDAQ:RDUS) Sees Large Volume Increase – Here’s Why

Radius Recycling, Inc. (NASDAQ:RDUS) shares saw strong trading volume on Tuesday . 717,614 shares traded hands during trading, an increase of 137% from the previous session’s volume of 303,175 shares.The stock last traded at $29.05 and had previously closed at $29.00.

Analyst Upgrades and Downgrades

RDUS has been the subject of several analyst reports. The Goldman Sachs Group began coverage on Radius Recycling in a research note on Monday, December 2nd. They issued a “neutral” rating and a $22.00 target price for the company. StockNews.com assumed coverage on shares of Radius Recycling in a research note on Tuesday. They set a “sell” rating for the company.

Radius Recycling Stock Performance

The stock has a fifty day simple moving average of $15.79 and a two-hundred day simple moving average of $16.70. The stock has a market cap of $818.75 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 issued its 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 during 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 quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.64) earnings per share. Equities analysts anticipate that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued 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 yield of 2.58%. Radius Recycling’s dividend payout ratio (DPR) is presently -7.49%.

Institutional Investors Weigh In On Radius Recycling

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Radius Recycling in the third quarter valued at $32,000. Point72 DIFC Ltd acquired a new stake in shares of Radius Recycling in the 3rd quarter valued at $46,000. Aquatic Capital Management LLC bought a new stake in shares of Radius Recycling in the 4th quarter worth about $68,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Radius Recycling by 172.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock worth $99,000 after buying an additional 3,394 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Radius Recycling in the fourth quarter valued at approximately $140,000. 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.