Radius Recycling (NASDAQ:RDUS) Sets New 52-Week High – Time to Buy?

Radius Recycling, Inc. (NASDAQ:RDUS) shares hit a new 52-week high during trading on Thursday . The company traded as high as $29.18 and last traded at $29.14, with a volume of 722091 shares trading hands. The stock had previously closed at $29.12.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Radius Recycling in a research note on Wednesday. They issued a “sell” rating for the company.

Radius Recycling Stock Performance

The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average of $17.74 and a 200 day moving average of $17.26. The stock has a market capitalization of $819.87 million, a P/E ratio of -2.91 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 for the quarter, missing the consensus estimate of ($0.66) by ($0.67). The business had revenue of $656.54 million for 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% on a year-over-year basis. During the same quarter last year, the firm posted ($0.64) earnings per share. Research analysts anticipate that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

Radius Recycling Announces Dividend

The business 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. The ex-dividend date was Monday, February 3rd. This represents a $0.75 annualized dividend and a dividend yield of 2.58%. Radius Recycling’s dividend payout ratio (DPR) is presently -7.49%.

Institutional Trading of Radius Recycling

Several institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC acquired a new stake in Radius Recycling during the 4th quarter valued at $1,342,000. E. Ohman J or Asset Management AB boosted its stake in shares of Radius Recycling by 29.9% in the 4th quarter. E. Ohman J or Asset Management AB now owns 98,650 shares of the basic materials company’s stock valued at $1,501,000 after purchasing an additional 22,700 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Radius Recycling by 67.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company’s stock valued at $1,537,000 after acquiring an additional 33,298 shares during the last quarter. Jane Street Group LLC lifted its stake 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 valued at $1,684,000 after purchasing an additional 35,073 shares during the period. Finally, Barclays PLC boosted its position 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 during the last quarter. Institutional investors and hedge funds own 78.11% of the company’s stock.

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.