Radius Recycling (NASDAQ:RDUS) Sees Strong Trading Volume Following Strong Earnings

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) saw unusually-strong trading volume on Friday following a better than expected earnings announcement. Approximately 932,074 shares were traded during mid-day trading, an increase of 180% from the previous session's volume of 332,385 shares.The stock last traded at $28.60 and had previously closed at $29.12.

The basic materials company reported ($0.99) EPS for the quarter, beating analysts' consensus estimates of ($1.08) by $0.09. Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The firm had revenue of $642.51 million for the quarter, compared to analysts' expectations of $635.94 million.

Radius Recycling Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 21st will be paid a dividend of $0.1875 per share. The ex-dividend date is Monday, April 21st. This represents a $0.75 annualized dividend and a dividend yield of 2.59%. Radius Recycling's dividend payout ratio (DPR) is presently -7.52%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Radius Recycling in a research report on Wednesday, April 2nd. They set a "sell" rating for the company.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its position in shares of Radius Recycling by 17.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company's stock worth $38,039,000 after buying an additional 377,212 shares in the last quarter. FMR LLC raised its holdings in shares of 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 acquiring an additional 182,435 shares in the last quarter. Systematic Financial Management LP lifted its stake in shares of Radius Recycling by 9.2% in the fourth quarter. Systematic Financial Management LP now owns 689,315 shares of the basic materials company's stock worth $10,491,000 after buying an additional 58,353 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Radius Recycling by 6.0% during the third quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company's stock valued at $11,936,000 after buying an additional 36,618 shares during the last quarter. Finally, Icon Advisers Inc. Co. boosted its holdings in Radius Recycling by 115.9% during the fourth quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company's stock valued at $4,338,000 after purchasing an additional 153,000 shares in the last quarter. 78.11% of the stock is currently owned by hedge funds and other institutional investors.

Radius Recycling Trading Up 1.6 %

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 company's fifty day moving average price is $19.04 and its two-hundred day moving average price is $17.59. The company has a market cap of $816.19 million, a price-to-earnings ratio of -2.89 and a beta of 1.07.

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.