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

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on Radius Recycling in a report on Tuesday, May 20th. They issued a "sell" rating for the company.

Radius Recycling Trading Up 0.1%

The firm has a fifty day moving average of $29.35 and a two-hundred day moving average of $21.39. The company has a market cap of $832.81 million, a PE ratio of -2.95 and a beta of 1.02. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last announced its quarterly earnings data on Friday, April 4th. The basic materials company reported ($0.99) earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $635.94 million. As a group, sell-side analysts predict that Radius Recycling, Inc. will post -3.84 EPS for the current year.

Radius Recycling Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 21st were paid a $0.1875 dividend. The ex-dividend date was Monday, April 21st. This represents a $0.75 annualized dividend and a yield of 2.54%. Radius Recycling's dividend payout ratio is currently -7.52%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Slotnik Capital LLC bought a new position in Radius Recycling in the 1st quarter worth about $2,744,000. Caxton Associates LLP bought a new position in Radius Recycling in the 1st quarter worth about $2,888,000. Goldman Sachs Group Inc. boosted its stake in Radius Recycling by 82.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 422,774 shares of the basic materials company's stock worth $12,210,000 after purchasing an additional 191,278 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Radius Recycling in the 1st quarter worth about $511,000. Finally, Murchinson Ltd. bought a new position in Radius Recycling in the 1st quarter worth about $202,000. Institutional investors 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.