Radius Recycling (NASDAQ:RDUS) Sets New 12-Month High - Here's What Happened

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $29.21 and last traded at $29.17, with a volume of 112346 shares. The stock had previously closed at $28.92.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Radius Recycling in a report on Saturday. They issued a "sell" rating on the stock.

Radius Recycling Stock Performance

The stock has a market capitalization of $824.63 million, a price-to-earnings ratio of -2.92 and a beta of 1.07. 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 50-day moving average of $23.68 and a 200 day moving average of $18.63.

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

Radius Recycling Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 21st will be given a $0.1875 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $0.75 annualized dividend and a dividend yield of 2.56%. Radius Recycling's dividend payout ratio is presently -7.52%.

Hedge Funds Weigh In On Radius Recycling

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Radius Recycling by 76.2% during the first quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company's stock worth $27,000 after purchasing an additional 410 shares during the last quarter. Aquatic Capital Management LLC bought a new position in shares of Radius Recycling in the 4th quarter valued at about $68,000. SG Americas Securities LLC bought a new stake in Radius Recycling during the fourth quarter worth about $140,000. Y Intercept Hong Kong Ltd bought a new position in Radius Recycling in the fourth quarter valued at approximately $160,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Radius Recycling during the 4th quarter worth approximately $181,000. 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.