Radius Recycling (NASDAQ:RDUS) Sees Large Volume Increase on Better-Than-Expected Earnings

Radius Recycling, Inc. (NASDAQ:RDUS) saw strong trading volume on Friday following a stronger than expected earnings report. 932,074 shares traded hands during mid-day trading, an increase of 180% from the previous session’s volume of 332,385 shares.The stock last traded at $28.60 and had previously closed at $29.12.

The basic materials company reported ($0.99) earnings per share for the quarter, topping the consensus estimate of ($1.08) by $0.09. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The business had revenue of $642.51 million for the quarter, compared to analyst estimates of $635.94 million.

Radius Recycling Announces Dividend

The firm also recently announced 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. This represents a $0.75 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is presently -7.49%.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Radius Recycling in a research report on Wednesday. They set a “sell” rating on the stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Radius Recycling in the third quarter valued at about $32,000. Point72 DIFC Ltd acquired a new stake in Radius Recycling in the third quarter valued at approximately $46,000. Aquatic Capital Management LLC purchased a new stake in shares of Radius Recycling during the fourth quarter valued at approximately $68,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Radius Recycling by 172.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock worth $99,000 after purchasing an additional 3,394 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Radius Recycling in the fourth quarter valued at $140,000. 78.11% of the stock is owned by hedge funds and other institutional investors.

Radius Recycling Stock Performance

The firm has a market capitalization of $814.81 million, a price-to-earnings ratio of -2.89 and a beta of 1.67. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02. The stock’s fifty day moving average is $18.07 and its two-hundred day moving average is $17.35.

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.