Radius Recycling (NASDAQ:RDUS) Sets New 52-Week High - Should You Buy?

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

Analyst Upgrades and Downgrades

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 Stock Performance

The stock has a market cap of $846 million, a PE ratio of -8.33 and a beta of 1.00. The firm has a 50-day moving average price of $29.58 and a 200-day moving average price of $22.87. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.97 and a current ratio of 1.85.

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, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $725.30 million. During the same period in the previous year, the company earned ($0.59) earnings per share. As a group, equities analysts anticipate that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Monday, July 21st will be paid a dividend of $0.1875 per share. 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 -20.83%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC lifted its stake in Radius Recycling by 15.7% during the 4th quarter. Barclays PLC now owns 67,523 shares of the basic materials company's stock valued at $1,027,000 after acquiring an additional 9,186 shares during the period. GAMMA Investing LLC lifted its position in Radius Recycling by 4,988.8% during the first quarter. GAMMA Investing LLC now owns 27,378 shares of the basic materials company's stock valued at $791,000 after purchasing an additional 26,840 shares during the period. PEAK6 LLC purchased a new stake in Radius Recycling in the fourth quarter worth approximately $262,000. Perpetual Ltd grew its position in Radius Recycling by 159.6% in the 1st quarter. Perpetual Ltd now owns 342,466 shares of the basic materials company's stock worth $9,890,000 after purchasing an additional 210,561 shares during the period. Finally, Bank of America Corp DE grew its position in Radius Recycling by 15.8% in the 4th quarter. Bank of America Corp DE now owns 81,801 shares of the basic materials company's stock worth $1,245,000 after purchasing an additional 11,191 shares during the period. 78.11% of the stock is 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.