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

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $29.59 and last traded at $29.51, with a volume of 809651 shares changing hands. The stock had previously closed at $29.38.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Radius Recycling in a report on Monday, May 12th. They set a "sell" rating on the stock.

Radius Recycling Stock Performance

The company has a market capitalization of $831.25 million, a PE ratio of -2.94 and a beta of 1.04. The business's fifty day moving average is $28.48 and its two-hundred day moving average is $19.91. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last announced its quarterly earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $642.51 million for the quarter, compared to the consensus estimate of $635.94 million. Equities research analysts predict that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 21st were given a dividend of $0.1875 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $0.75 annualized dividend and a yield of 2.54%. Radius Recycling's dividend payout ratio (DPR) is presently -7.52%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Radius Recycling by 76.2% during the 1st quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company's stock worth $27,000 after acquiring an additional 410 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new position in Radius Recycling during the first quarter valued at $75,000. State of Wyoming bought a new stake in shares of Radius Recycling in the 1st quarter worth about $106,000. Aquatic Capital Management LLC bought a new stake in shares of Radius Recycling during the fourth quarter worth $68,000. Finally, CWM LLC increased its stake in Radius Recycling by 160.3% in the 1st quarter. CWM LLC now owns 6,431 shares of the basic materials company's stock worth $186,000 after buying an additional 3,960 shares during the period. 78.11% of the stock is owned by hedge funds and other institutional investors.

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.