Radius Recycling (NASDAQ:RDUS) Sets New 1-Year High - Should You Buy?

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

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Radius Recycling in a research report on Saturday, April 26th. They issued a "sell" rating for the company.

Radius Recycling Stock Performance

The firm has a market cap of $829.98 million, a PE ratio of -2.94 and a beta of 1.07. The company has a 50-day simple moving average of $25.30 and a two-hundred day simple moving average of $19.02. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last posted its quarterly earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share 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 analyst estimates of $635.94 million. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. As a group, equities research analysts forecast that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Dividend Announcement

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

Hedge Funds Weigh In On Radius Recycling

Several large investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its holdings in shares of Radius Recycling by 17.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company's stock worth $38,039,000 after acquiring an additional 377,212 shares during the period. Systematic Financial Management LP grew its holdings in Radius Recycling by 9.2% during the 4th quarter. Systematic Financial Management LP now owns 689,315 shares of the basic materials company's stock valued at $10,491,000 after buying an additional 58,353 shares in the last quarter. Perpetual Ltd increased its position in shares of Radius Recycling by 159.6% during 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 during the period. Icon Advisers Inc. Co. lifted its holdings 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 worth $4,338,000 after buying an additional 153,000 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Radius Recycling in the fourth quarter valued at approximately $4,199,000. Hedge funds and other institutional investors own 78.11% of the company's stock.

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.