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 changed hands during mid-day 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 analysts recently commented on RDUS shares. The Goldman Sachs Group started coverage on Radius Recycling in a report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 target price on the stock. StockNews.com cut Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th.

Radius Recycling Price Performance

The company has a fifty day moving average of $13.11 and a 200 day moving average of $15.91. The firm has a market capitalization of $809.01 million, a P/E ratio of -2.86 and a beta of 1.67. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97.

Radius Recycling (NASDAQ:RDUS) last posted 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 the consensus estimate of $665.90 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. Radius Recycling’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.64) earnings per share. Sell-side analysts predict that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, February 3rd. Radius Recycling’s payout ratio is -7.49%.

Hedge Funds Weigh In On Radius Recycling

Institutional investors and hedge funds have recently modified their holdings of the business. E. Ohman J or Asset Management AB boosted its holdings in shares of Radius Recycling by 29.9% during the 4th quarter. E. Ohman J or Asset Management AB now owns 98,650 shares of the basic materials company’s stock worth $1,501,000 after buying an additional 22,700 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Radius Recycling in the 4th quarter worth $1,342,000. JPMorgan Chase & Co. lifted its holdings in shares of Radius Recycling by 67.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company’s stock worth $1,537,000 after purchasing an additional 33,298 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Radius Recycling by 62.9% in the 3rd quarter. Jane Street Group LLC now owns 90,813 shares of the basic materials company’s stock worth $1,684,000 after purchasing an additional 35,073 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Radius Recycling by 156.2% in the 3rd quarter. Barclays PLC now owns 58,337 shares of the basic materials company’s stock worth $1,081,000 after purchasing an additional 35,568 shares in the last quarter. 78.11% of the stock is currently owned by institutional investors.

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.