Radius Recycling (NASDAQ:RDUS) Sees Strong Trading Volume – Here’s Why

Shares of Radius Recycling, Inc. (NASDAQ:RDUS) saw unusually-strong trading volume on Monday . Approximately 284,185 shares were traded during trading, an increase of 4% from the previous session’s volume of 272,236 shares.The stock last traded at $28.59 and had previously closed at $27.81.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RDUS shares. StockNews.com cut shares of Radius Recycling from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. The Goldman Sachs Group started coverage on shares of Radius Recycling in a research report on Monday, December 2nd. They set a “neutral” rating and a $22.00 price objective for the company.

Radius Recycling Stock Performance

The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75. The stock has a market cap of $809.01 million, a price-to-earnings ratio of -2.86 and a beta of 1.67. The company has a 50 day simple moving average of $13.11 and a 200 day simple moving average of $15.91.

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 the consensus estimate of ($0.66) by ($0.67). The business had revenue of $656.54 million for the quarter, compared to analyst estimates of $665.90 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.64) EPS. As a group, equities research analysts forecast that Radius Recycling, Inc. will post -3.84 EPS for the current year.

Radius Recycling Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Monday, February 3rd. Radius Recycling’s dividend payout ratio is currently -7.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RDUS. Victory Capital Management Inc. increased its stake in shares of Radius Recycling by 7.0% in the third quarter. Victory Capital Management Inc. now owns 52,200 shares of the basic materials company’s stock valued at $968,000 after buying an additional 3,400 shares during the period. Empowered Funds LLC increased its stake in shares of Radius Recycling by 5.3% in the third quarter. Empowered Funds LLC now owns 126,884 shares of the basic materials company’s stock valued at $2,352,000 after buying an additional 6,432 shares during the period. Quest Partners LLC increased its stake in shares of Radius Recycling by 2,836.2% in the third quarter. Quest Partners LLC now owns 22,491 shares of the basic materials company’s stock valued at $417,000 after buying an additional 21,725 shares during the period. Algert Global LLC acquired a new position in shares of Radius Recycling in the third quarter valued at approximately $922,000. Finally, FMR LLC increased its stake in shares of Radius Recycling by 23.7% in the third quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock valued at $17,638,000 after buying an additional 182,435 shares during the period. Institutional investors and hedge funds 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.