Radius Recycling (NASDAQ:RDUS) Sees Strong Trading Volume - Here's What Happened

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 356,107 shares changed hands during mid-day trading, a decline of 22% from the previous session's volume of 456,719 shares.The stock last traded at $30.04 and had previously closed at $29.71.

Analyst Ratings Changes

Separately, Wall Street Zen initiated coverage on shares of Radius Recycling in a research report on Tuesday, May 20th. They set a "sell" rating for the company.

Radius Recycling Trading Up 0.9%

The firm has a market capitalization of $845.44 million, a PE ratio of -8.33 and a beta of 1.00. The company has a quick ratio of 0.97, a current ratio of 1.85 and a debt-to-equity ratio of 0.85. The business's fifty day moving average price is $29.55 and its 200 day moving average price is $22.72.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last issued its earnings results on Tuesday, July 1st. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.87) by $0.48. Radius Recycling had a negative net margin of 3.69% and a negative return on equity of 15.73%. The business had revenue of $726.99 million for the quarter, compared to analyst estimates of $725.30 million. During the same quarter in the prior year, the business posted ($0.59) EPS. As a group, analysts expect that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Monday, July 21st will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.75 annualized dividend and a yield of 2.50%. Radius Recycling's dividend payout ratio is presently -20.83%.

Institutional Trading of Radius Recycling

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of Radius Recycling by 76.2% in the first quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company's stock worth $27,000 after acquiring an additional 410 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in Radius Recycling during the fourth quarter worth $68,000. Longfellow Investment Management Co. LLC bought a new stake in Radius Recycling during the first quarter worth $75,000. State of Wyoming bought a new position in shares of Radius Recycling in the first quarter valued at about $106,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Radius Recycling in the fourth quarter valued at about $181,000. 78.11% of the stock is currently 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.