Radius Recycling (NASDAQ:RDUS) Sets New 1-Year High - Here's Why

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $29.48 and last traded at $29.43, with a volume of 463116 shares traded. The stock had previously closed at $29.43.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Radius Recycling in a report on Sunday. They set a "sell" rating for the company.

Radius Recycling Stock Performance

The company has a market cap of $829.14 million, a price-to-earnings ratio of -2.93 and a beta of 1.04. The firm has a 50-day simple moving average of $26.25 and a 200 day simple moving average of $19.25. 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 issued its earnings results 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 net margin of 10.49% and a negative return on equity of 14.16%. The company had revenue of $642.51 million for the quarter, compared to analyst estimates of $635.94 million. On average, sell-side analysts predict that Radius Recycling, Inc. will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

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

Hedge Funds Weigh In On Radius Recycling

A number of institutional investors have recently modified their holdings of the company. Allianz Asset Management GmbH purchased a new stake in Radius Recycling in the first quarter valued at approximately $456,000. CWM LLC increased its stake in Radius Recycling by 160.3% during the first quarter. CWM LLC now owns 6,431 shares of the basic materials company's stock valued at $186,000 after purchasing an additional 3,960 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Radius Recycling during the 1st quarter worth approximately $345,000. Nisa Investment Advisors LLC boosted its position in Radius Recycling by 3,956.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 7,139 shares of the basic materials company's stock valued at $206,000 after purchasing an additional 6,963 shares during the period. Finally, Perpetual Ltd increased 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 worth $9,890,000 after buying an additional 210,561 shares during the period. Institutional investors and hedge funds 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.