Radius Recycling (NASDAQ:RDUS) Sees Unusually-High Trading Volume - What's Next?

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 356,107 shares changed hands during 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.

Wall Street Analyst Weigh In

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

Radius Recycling Price Performance

The stock has a market capitalization of $846 million, a P/E ratio of -8.33 and a beta of 1.00. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.97 and a current ratio of 1.85. The firm has a fifty day moving average price of $29.59 and a two-hundred day moving average price of $22.97.

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

Radius Recycling Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Monday, July 21st will be given 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 payout ratio is presently -20.83%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RDUS. Alpine Associates Management Inc. purchased a new stake in shares of Radius Recycling during the first quarter worth about $27,208,000. Magnetar Financial LLC bought a new position in Radius Recycling in the 1st quarter worth approximately $18,483,000. Hsbc Holdings PLC boosted its stake in Radius Recycling by 1,518.8% in the 1st quarter. Hsbc Holdings PLC now owns 643,146 shares of the basic materials company's stock worth $18,613,000 after purchasing an additional 603,417 shares during the period. Millennium Management LLC grew its holdings in Radius Recycling by 300.3% during the 1st quarter. Millennium Management LLC now owns 595,714 shares of the basic materials company's stock valued at $17,204,000 after buying an additional 446,891 shares in the last quarter. Finally, AQR Arbitrage LLC bought a new stake in shares of Radius Recycling during the first quarter valued at approximately $11,706,000. Hedge funds and other 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.