Radius Recycling (NASDAQ:RDUS) Hits New 52-Week High – Should You Buy?

Radius Recycling, Inc. (NASDAQ:RDUS)’s share price hit a new 52-week high on Monday . The stock traded as high as $29.29 and last traded at $29.21, with a volume of 552528 shares. The stock had previously closed at $29.19.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Radius Recycling in a report on Saturday. They set a “sell” rating on the stock.

Radius Recycling Stock Performance

The stock has a market capitalization of $823.64 million, a PE ratio of -2.92 and a beta of 1.07. The business’s fifty day moving average is $23.68 and its two-hundred day moving average is $18.63. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75.

Radius Recycling (NASDAQ:RDUS) last announced its quarterly earnings data on Friday, April 4th. The basic materials company reported ($0.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.08) by $0.09. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The business had revenue of $642.51 million during the quarter, compared to the consensus estimate of $635.94 million. As a group, research analysts anticipate that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 21st will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Monday, April 21st. Radius Recycling’s dividend payout ratio is presently -7.52%.

Hedge Funds Weigh In On Radius Recycling

A number of institutional investors have recently bought and sold shares of the business. Perpetual Ltd grew its position in shares of Radius Recycling by 159.6% in the first quarter. Perpetual Ltd now owns 342,466 shares of the basic materials company’s stock valued at $9,890,000 after purchasing an additional 210,561 shares during the period. GAMMA Investing LLC grew its position in Radius Recycling by 76.2% in the 1st quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 410 shares in the last quarter. E. Ohman J or Asset Management AB grew its stake in Radius Recycling by 2.6% during the 1st quarter. E. Ohman J or Asset Management AB now owns 101,198 shares of the basic materials company’s stock worth $2,923,000 after purchasing an additional 2,548 shares in the last quarter. Green Alpha Advisors LLC increased its holdings in shares of Radius Recycling by 15.8% in the 1st quarter. Green Alpha Advisors LLC now owns 40,630 shares of the basic materials company’s stock valued at $1,173,000 after acquiring an additional 5,539 shares during the last quarter. Finally, Moody National Bank Trust Division lifted its holdings in shares of Radius Recycling by 11.5% in the 1st quarter. Moody National Bank Trust Division now owns 30,450 shares of the basic materials company’s stock valued at $879,000 after purchasing an additional 3,140 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.