Radius Recycling (NASDAQ:RDUS) Sets New 52-Week High - Here's Why

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen began coverage on shares of Radius Recycling in a report on Tuesday, May 20th. They set a "sell" rating for the company.

Radius Recycling Stock Up 0.1%

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 firm has a market capitalization of $835.34 million, a PE ratio of -2.96 and a beta of 1.02. The company has a fifty day moving average price of $29.27 and a 200-day moving average price of $20.96.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last announced its quarterly earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $642.51 million for the quarter, compared to analysts' expectations of $635.94 million. As a group, analysts expect that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Announces Dividend

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

Institutional Trading of Radius Recycling

A number of institutional investors have recently bought and sold shares of RDUS. Alpine Associates Management Inc. purchased a new stake in shares of Radius Recycling in the first quarter valued at $27,208,000. Magnetar Financial LLC bought a new position in Radius Recycling during the 1st quarter valued at about $18,483,000. Hsbc Holdings PLC raised its position in Radius Recycling by 1,518.8% in the 1st quarter. Hsbc Holdings PLC now owns 643,146 shares of the basic materials company's stock worth $18,613,000 after purchasing an additional 603,417 shares during the period. Millennium Management LLC lifted its stake in Radius Recycling by 300.3% in the first quarter. Millennium Management LLC now owns 595,714 shares of the basic materials company's stock worth $17,204,000 after purchasing an additional 446,891 shares during the last quarter. Finally, AQR Arbitrage LLC purchased a new position in shares of Radius Recycling during the first quarter valued at approximately $11,706,000. 78.11% of the stock is currently 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.