Radius Recycling (NASDAQ:RDUS) Sees Unusually-High Trading Volume – Here’s Why

Shares of Radius Recycling, Inc. (NASDAQ:RDUS) saw unusually-high trading volume on Tuesday . Approximately 717,614 shares traded 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 Analysts Forecast Growth

A number of brokerages have commented on RDUS. StockNews.com started coverage on Radius Recycling in a research note on Tuesday. They issued a “sell” rating for the company. The Goldman Sachs Group assumed coverage on Radius Recycling in a research note on Monday, December 2nd. They set a “neutral” rating and a $22.00 price target for the company.

Radius Recycling Trading Up 0.0 %

The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average of $15.09 and a 200 day moving average of $16.51. The firm has a market cap of $816.78 million, a price-to-earnings ratio of -2.90 and a beta of 1.67.

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

Radius Recycling Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders 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 dividend yield of 2.59%. The ex-dividend date was Monday, February 3rd. Radius Recycling’s dividend payout ratio is currently -7.49%.

Institutional Trading of Radius Recycling

Several hedge funds have recently bought and sold shares of RDUS. Victory Capital Management Inc. boosted its stake in Radius Recycling by 7.0% in the 3rd quarter. Victory Capital Management Inc. now owns 52,200 shares of the basic materials company’s stock worth $968,000 after purchasing an additional 3,400 shares during the period. Quest Partners LLC grew its stake in shares of Radius Recycling by 2,836.2% during the 3rd quarter. Quest Partners LLC now owns 22,491 shares of the basic materials company’s stock worth $417,000 after acquiring an additional 21,725 shares in the last quarter. Algert Global LLC bought a new stake in shares of Radius Recycling in the third quarter worth $922,000. FMR LLC boosted its holdings 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 purchasing an additional 182,435 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Radius Recycling by 87.0% in the third quarter. BNP Paribas Financial Markets now owns 12,502 shares of the basic materials company’s stock valued at $232,000 after purchasing an additional 5,815 shares in the last quarter. 78.11% of the stock is currently owned by institutional investors and hedge funds.

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.