Radius Recycling (NASDAQ:RDUS) Reaches New 1-Year High – Here’s Why

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

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Radius Recycling in a report on Wednesday. They set a “sell” rating for the company.

Radius Recycling Price Performance

The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97. The stock has a market capitalization of $819.87 million, a price-to-earnings ratio of -2.91 and a beta of 1.67. The stock’s 50 day simple moving average is $17.74 and its 200-day simple moving average is $17.26.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The business had revenue of $656.54 million during the quarter, compared to the consensus estimate of $665.90 million. During the same quarter in the prior year, the company posted ($0.64) earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts expect that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, February 3rd. Radius Recycling’s payout ratio is -7.49%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Radius Recycling in the third quarter valued at about $32,000. Point72 DIFC Ltd bought a new position in Radius Recycling in the 3rd quarter worth approximately $46,000. Aquatic Capital Management LLC acquired a new position in shares of Radius Recycling during the fourth quarter worth approximately $68,000. Point72 Asia Singapore Pte. Ltd. boosted its position 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 valued at $99,000 after acquiring an additional 3,394 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Radius Recycling in the fourth quarter worth $140,000. 78.11% of the stock is currently 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.