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

Shares of Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $29.29 and last traded at $29.21, with a volume of 552528 shares trading hands. The stock had previously closed at $29.19.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Radius Recycling in a report on Saturday, April 26th. They set a "sell" rating for the company.

Radius Recycling Stock Up 0.2 %

The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The business has a fifty day moving average price of $24.98 and a two-hundred day moving average price of $18.94. The company has a market cap of $828.86 million, a price-to-earnings ratio of -2.93 and a beta of 1.07.

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

Radius Recycling Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 21st will be issued a $0.1875 dividend. The ex-dividend date is Monday, April 21st. This represents a $0.75 dividend on an annualized basis and a yield of 2.55%. Radius Recycling's dividend payout ratio is presently -7.52%.

Institutional Trading of Radius Recycling

Several hedge funds have recently added to or reduced their stakes in RDUS. Ameriprise Financial Inc. boosted its holdings in Radius Recycling by 17.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company's stock worth $38,039,000 after purchasing an additional 377,212 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Radius Recycling during the 4th quarter worth $4,199,000. Perpetual Ltd boosted its position in Radius Recycling by 159.6% in the first quarter. Perpetual Ltd now owns 342,466 shares of the basic materials company's stock valued at $9,890,000 after buying an additional 210,561 shares in the last quarter. Icon Advisers Inc. Co. increased its stake in shares of Radius Recycling by 115.9% in the fourth quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company's stock valued at $4,338,000 after buying an additional 153,000 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its holdings in Radius Recycling by 447.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 157,929 shares of the basic materials company's stock worth $2,404,000 after buying an additional 129,086 shares during the period. Institutional investors and hedge funds own 78.11% of the company's stock.

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.