Radius Recycling (NASDAQ:RDUS) Hits New 1-Year High - Should You Buy?

Shares of Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) hit a new 52-week high during trading on Saturday . The stock traded as high as $28.50 and last traded at $27.81, with a volume of 8522763 shares trading hands. The stock had previously closed at $13.66.

Analysts Set New Price Targets

Several brokerages recently weighed in on RDUS. 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 initiated coverage on Radius Recycling in a research note on Monday, December 2nd. They issued a "neutral" rating and a $22.00 price objective for the company.

Radius Recycling Price 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's fifty day moving average price is $13.39 and its 200 day moving average price is $16.01. The stock has a market cap of $815.93 million, a PE ratio of -2.89 and a beta of 1.67.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last announced its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.67). The company 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%. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.64) EPS. As a group, equities analysts expect that Radius Recycling, Inc. will post -3.84 EPS for the current fiscal year.

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Radius Recycling Announces Dividend

The company 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 annualized dividend and a yield of 2.59%. The ex-dividend date was Monday, February 3rd. Radius Recycling's dividend payout ratio is presently -7.49%.

Institutional Trading of Radius Recycling

Several hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. increased its position in Radius Recycling by 17.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company's stock worth $38,039,000 after purchasing an additional 377,212 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Radius Recycling in the 4th quarter worth $4,199,000. FMR LLC increased its holdings in shares of Radius Recycling by 23.7% in the 3rd quarter. FMR LLC now owns 951,337 shares of the basic materials company's stock worth $17,638,000 after buying an additional 182,435 shares during the last quarter. Icon Advisers Inc. Co. raised its position in shares of Radius Recycling by 115.9% during the 4th quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company's stock valued at $4,338,000 after buying an additional 153,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Radius Recycling by 447.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 157,929 shares of the basic materials company's stock valued at $2,404,000 after acquiring an additional 129,086 shares during the last quarter. 78.11% of the stock is owned by hedge funds and other institutional investors.

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.