Radius Recycling (NASDAQ:RDUS) Sees Strong Trading Volume – Here’s Why

Radius Recycling, Inc. (NASDAQ:RDUS) saw strong trading volume on Monday . 284,185 shares were traded during 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.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. The Goldman Sachs Group began coverage on shares of Radius Recycling in a research note on Monday, December 2nd. They issued a “neutral” rating and a $22.00 target price for the company.

Radius Recycling Price Performance

The stock has a market cap of $815.93 million, a PE ratio of -2.89 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. The firm’s 50 day moving average price is $13.67 and its two-hundred day moving average price is $16.10.

Radius Recycling (NASDAQ:RDUS) last posted 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 during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.64) EPS. On average, research analysts expect that Radius Recycling, Inc. will post -3.84 earnings per share for the current year.

Radius Recycling Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a dividend of $0.1875 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.75 annualized dividend and a yield of 2.59%. Radius Recycling’s dividend payout ratio is currently -7.49%.

Hedge Funds Weigh In On Radius Recycling

Several hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Radius Recycling by 4.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,480 shares of the basic materials company’s stock valued at $1,012,000 after acquiring an additional 3,090 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Radius Recycling during the fourth quarter valued at approximately $478,000. Systematic Financial Management LP grew its stake in Radius Recycling by 9.2% during the fourth quarter. Systematic Financial Management LP now owns 689,315 shares of the basic materials company’s stock valued at $10,491,000 after acquiring an additional 58,353 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Radius Recycling by 302.1% during the fourth quarter. Point72 Asset Management L.P. now owns 18,900 shares of the basic materials company’s stock valued at $288,000 after acquiring an additional 14,200 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in Radius Recycling during the fourth quarter valued at approximately $181,000. Hedge funds and other institutional investors 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.