Radius Recycling (NASDAQ:RDUS) Reaches New 1-Year High - Here's What Happened

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $29.74 and last traded at $29.67, with a volume of 698865 shares traded. The stock had previously closed at $29.60.

Wall Street Analyst Weigh In

Separately, Wall Street Zen began coverage on Radius Recycling in a research note on Tuesday, May 20th. They set a "sell" rating on the stock.

Radius Recycling Stock Up 0.1%

The business has a 50-day simple moving average of $29.31 and a two-hundred day simple moving average of $21.25. 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 company has a market capitalization of $835.63 million, a price-to-earnings ratio of -2.96 and a beta of 1.02.

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

Radius Recycling Announces Dividend

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

Institutional Trading of Radius Recycling

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of Radius Recycling by 76.2% in the 1st quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company's stock valued at $27,000 after buying an additional 410 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Radius Recycling in the 4th quarter valued at approximately $68,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Radius Recycling in the 1st quarter valued at approximately $75,000. State of Wyoming acquired a new stake in shares of Radius Recycling in the 1st quarter valued at approximately $106,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Radius Recycling in the 4th quarter valued at approximately $160,000. 78.11% of the stock is owned by institutional investors and hedge funds.

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.