Radius Recycling (NASDAQ:RDUS) Hits New 52-Week High – Here’s What Happened

Radius Recycling, Inc. (NASDAQ:RDUS)’s share price reached a new 52-week high on Saturday . The company traded as high as $28.50 and last traded at $27.81, with a volume of 8522763 shares traded. The stock had previously closed at $13.66.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RDUS. The Goldman Sachs Group assumed coverage on shares of Radius Recycling in a research note on Monday, December 2nd. They issued a “neutral” rating and a $22.00 price objective for the company. StockNews.com lowered Radius Recycling from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th.

Radius Recycling Trading Up 103.6 %

The stock has a market capitalization of $782.99 million, a P/E ratio of -2.78 and a beta of 1.67. The stock’s fifty day moving average price is $12.84 and its 200 day moving average price is $15.81. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97.

Radius Recycling (NASDAQ:RDUS) last issued its earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The company had revenue of $656.54 million during the quarter, compared to the consensus estimate of $665.90 million. During the same quarter in the prior year, the company earned ($0.64) earnings per share. Radius Recycling’s revenue was down 2.4% on a year-over-year basis. Research analysts forecast that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is presently -7.49%.

Hedge Funds Weigh In On Radius Recycling

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. E. Ohman J or Asset Management AB lifted its stake in Radius Recycling by 29.9% in the fourth quarter. E. Ohman J or Asset Management AB now owns 98,650 shares of the basic materials company’s stock worth $1,501,000 after acquiring an additional 22,700 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Radius Recycling by 67.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company’s stock valued at $1,537,000 after purchasing an additional 33,298 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Radius Recycling in the 4th quarter worth approximately $1,342,000. Jane Street Group LLC boosted its stake in shares of Radius Recycling by 62.9% during the third quarter. Jane Street Group LLC now owns 90,813 shares of the basic materials company’s stock valued at $1,684,000 after purchasing an additional 35,073 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Radius Recycling by 156.2% during the third quarter. Barclays PLC now owns 58,337 shares of the basic materials company’s stock valued at $1,081,000 after purchasing an additional 35,568 shares in the last quarter. 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.