Radius Recycling (NASDAQ:RDUS) Reaches New 52-Week High - Here's What Happened

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $29.80 and last traded at $29.77, with a volume of 396192 shares trading hands. The stock had previously closed at $29.73.

Analyst Ratings Changes

Separately, Wall Street Zen assumed coverage on Radius Recycling in a research report on Tuesday, May 20th. They issued a "sell" rating on the stock.

Radius Recycling Trading Down 0.1%

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 firm has a market capitalization of $837.82 million, a P/E ratio of -8.25 and a beta of 1.00. The firm has a 50 day moving average of $29.54 and a 200-day moving average of $22.67.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 1st. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.48. The business had revenue of $726.99 million during the quarter, compared to analysts' expectations 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 period in the previous year, the company posted ($0.59) earnings per share. On average, equities research analysts predict that Radius Recycling, Inc. will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Monday, July 21st will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, July 21st. Radius Recycling's dividend payout ratio (DPR) is currently -20.83%.

Institutional Investors Weigh In On Radius Recycling

Several institutional investors have recently made changes to their positions in RDUS. GAMMA Investing LLC lifted its stake in Radius Recycling by 76.2% during the first quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company's stock worth $27,000 after purchasing 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 stake in Radius Recycling during the first quarter worth $106,000. Finally, Quantinno Capital Management LP bought a new stake in Radius Recycling during the fourth quarter worth $181,000. 78.11% of the stock is currently owned by institutional investors.

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.