Radius Recycling (NASDAQ:RDUS) Reaches New 12-Month High - Still a Buy?

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $29.72 and last traded at $29.58, with a volume of 727673 shares. The stock had previously closed at $29.61.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on shares of Radius Recycling in a research note on Tuesday, May 20th. They issued a "sell" rating on the stock.

Radius Recycling Price Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02. The business has a 50 day simple moving average of $29.25 and a 200-day simple moving average of $20.88. The firm has a market cap of $836.47 million, a price-to-earnings ratio of -2.96 and a beta of 1.04.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last posted its earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share for the quarter, beating analysts' consensus estimates of ($1.08) by $0.09. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The company had revenue of $642.51 million for the quarter, compared to analyst estimates of $635.94 million. Equities research analysts expect that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 21st were paid a $0.1875 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $0.75 annualized dividend and a dividend yield of 2.53%. Radius Recycling's payout ratio is -7.52%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Radius Recycling by 76.2% in the 1st quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company's stock valued at $27,000 after buying an additional 410 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new position in shares of Radius Recycling in the first quarter valued at approximately $75,000. State of Wyoming purchased a new stake in shares of Radius Recycling during the first quarter valued at approximately $106,000. Aquatic Capital Management LLC purchased a new stake in shares of Radius Recycling during the fourth quarter valued at approximately $68,000. Finally, CWM LLC lifted its holdings in Radius Recycling by 160.3% during the first quarter. CWM LLC now owns 6,431 shares of the basic materials company's stock worth $186,000 after acquiring an additional 3,960 shares during the period. 78.11% of the stock is owned by institutional investors.

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.