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

Shares of Radius Recycling, Inc. (NASDAQ:RDUS) saw an uptick in trading volume on Tuesday . 717,614 shares changed hands during trading, an increase of 137% from the previous session’s volume of 303,175 shares.The stock last traded at $29.05 and had previously closed at $29.00.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com started coverage on shares of Radius Recycling in a research note on Tuesday. They issued a “sell” rating on the stock. The Goldman Sachs Group assumed coverage on Radius Recycling in a research note on Monday, December 2nd. They issued a “neutral” rating and a $22.00 price target on the stock.

Radius Recycling Price Performance

The stock has a market capitalization of $816.78 million, a P/E ratio of -2.90 and a beta of 1.67. The stock has a 50 day moving average of $15.09 and a 200-day moving average of $16.51. 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) last issued its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.64) earnings per share. On average, equities research analysts anticipate that Radius Recycling, Inc. will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a dividend of $0.1875 per share. The ex-dividend date was Monday, February 3rd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.59%. Radius Recycling’s payout ratio is currently -7.49%.

Institutional Investors Weigh In On Radius Recycling

Institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. grew its position in Radius Recycling by 17.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company’s stock worth $38,039,000 after purchasing an additional 377,212 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Radius Recycling during the fourth quarter worth $4,199,000. FMR LLC raised its position in Radius Recycling by 23.7% during the third quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock worth $17,638,000 after acquiring an additional 182,435 shares during the last quarter. Icon Advisers Inc. Co. grew its holdings in shares of Radius Recycling by 115.9% during the fourth quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company’s stock worth $4,338,000 after buying an additional 153,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Radius Recycling by 447.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 157,929 shares of the basic materials company’s stock worth $2,404,000 after buying an additional 129,086 shares during the last quarter. 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.