Radius Recycling (NASDAQ:RDUS) Sets New 12-Month High – Should You Buy?

Shares of Radius Recycling, Inc. (NASDAQ:RDUS) reached a new 52-week high on Saturday . The stock 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.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RDUS shares. 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 target on the stock. StockNews.com downgraded shares of Radius Recycling from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th.

Radius Recycling Trading Up 103.6 %

The business has a 50-day moving average of $13.11 and a 200-day moving average of $15.91. The stock has a market capitalization of $782.99 million, a price-to-earnings ratio of -2.78 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.

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

Radius Recycling Announces Dividend

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

Institutional Investors Weigh In On Radius Recycling

Several hedge funds have recently made changes to their positions in RDUS. Victory Capital Management Inc. raised its stake in Radius Recycling by 7.0% during the 3rd quarter. Victory Capital Management Inc. now owns 52,200 shares of the basic materials company’s stock valued at $968,000 after acquiring an additional 3,400 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Radius Recycling by 5.3% during the third quarter. Empowered Funds LLC now owns 126,884 shares of the basic materials company’s stock worth $2,352,000 after purchasing an additional 6,432 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Radius Recycling by 2,836.2% during the third quarter. Quest Partners LLC now owns 22,491 shares of the basic materials company’s stock worth $417,000 after purchasing an additional 21,725 shares during the period. Algert Global LLC purchased a new position in Radius Recycling in the 3rd quarter valued at $922,000. Finally, FMR LLC increased its stake in Radius Recycling by 23.7% in the 3rd 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.

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.