Radius Recycling (NASDAQ:RDUS) Sets New 1-Year High After Strong Earnings

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $29.80 and last traded at $29.68, with a volume of 2768 shares changing hands. The stock had previously closed at $29.69.

The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.87) by $0.48. Radius Recycling had a negative return on equity of 16.38% and a negative net margin of 10.37%. The business had revenue of $726.99 million for the quarter, compared to the consensus estimate of $725.30 million. During the same quarter in the previous year, the business earned ($0.59) earnings per share.

Radius Recycling Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Monday, July 21st will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.53%. Radius Recycling's dividend payout ratio is currently -7.52%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Radius Recycling

A number of institutional investors have recently bought and sold shares of RDUS. Y Intercept Hong Kong Ltd bought a new position in shares of Radius Recycling during the 4th quarter worth approximately $160,000. Proficio Capital Partners LLC acquired a new stake in Radius Recycling during the 4th quarter valued at $1,342,000. Versor Investments LP bought a new position in Radius Recycling during the fourth quarter worth $236,000. Victory Capital Management Inc. boosted its position in Radius Recycling by 7.0% during the fourth quarter. Victory Capital Management Inc. now owns 55,850 shares of the basic materials company's stock worth $850,000 after purchasing an additional 3,650 shares during the period. Finally, Inceptionr LLC increased its holdings in shares of Radius Recycling by 11.2% in the fourth quarter. Inceptionr LLC now owns 18,645 shares of the basic materials company's stock valued at $284,000 after purchasing an additional 1,883 shares during the last quarter. Institutional investors and hedge funds own 78.11% of the company's stock.

Radius Recycling Price Performance

The company's 50-day moving average price is $29.48 and its two-hundred day moving average price is $22.21. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.81 and a quick ratio of 0.88. The company has a market capitalization of $835.28 million, a P/E ratio of -2.97 and a beta of 1.02.

Radius Recycling Company Profile

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.