Radius Recycling (NASDAQ:RDUS) Hits New 12-Month High – Should You Buy?

Radius Recycling, Inc. (NASDAQ:RDUS) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $29.20 and last traded at $29.02, with a volume of 1574 shares traded. The stock had previously closed at $29.05.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RDUS shares. The Goldman Sachs Group initiated coverage on Radius Recycling in a research note on Monday, December 2nd. They set a “neutral” rating and a $22.00 price target on the stock. StockNews.com began coverage on shares of Radius Recycling in a research note on Tuesday. They issued a “sell” rating on the stock.

Radius Recycling Stock Up 0.0 %

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 business has a 50-day simple moving average of $15.44 and a two-hundred day simple moving average of $16.61. The stock has a market capitalization of $816.78 million, a P/E ratio of -2.90 and a beta of 1.67.

Radius Recycling (NASDAQ:RDUS) last posted its 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 firm 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 business’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.64) EPS. Equities research analysts forecast that Radius Recycling, Inc. will post -3.84 earnings per share for the current fiscal year.

Radius Recycling Dividend Announcement

The business also recently declared 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 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 (DPR) is -7.49%.

Hedge Funds Weigh In On Radius Recycling

A number of institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Radius Recycling during the third quarter valued at approximately $32,000. Point72 DIFC Ltd bought a new position in Radius Recycling in the 3rd quarter valued at $46,000. Aquatic Capital Management LLC acquired a new stake in shares of Radius Recycling in the 4th quarter valued at $68,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Radius Recycling by 172.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,357 shares of the basic materials company’s stock worth $99,000 after acquiring an additional 3,394 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Radius Recycling during the fourth quarter valued at $140,000. 78.11% of the stock is 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.