Radius Recycling (NASDAQ:RDUS) Trading 15.9% Higher – Here’s Why

Radius Recycling, Inc. (NASDAQ:RDUS)’s share price was up 15.9% during mid-day trading on Wednesday . The stock traded as high as $19.66 and last traded at $19.66. Approximately 75,087 shares traded hands during trading, a decline of 66% from the average daily volume of 220,043 shares. The stock had previously closed at $16.97.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Radius Recycling from a “hold” rating to a “sell” rating in a research report on Monday, October 28th.

Radius Recycling Price Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.00. The firm’s 50-day moving average is $16.92 and its two-hundred day moving average is $16.60. The company has a market cap of $574.54 million, a P/E ratio of -2.12 and a beta of 1.55.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.18. The business had revenue of $771.00 million during the quarter, compared to analyst estimates of $680.80 million. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned $0.47 EPS. Analysts anticipate that Radius Recycling, Inc. will post -1.02 earnings per share for the current year.

Radius Recycling Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Tuesday, November 12th. Radius Recycling’s dividend payout ratio (DPR) is -8.01%.

Insider Transactions at Radius Recycling

In related news, SVP Steven Heiskell sold 17,675 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total transaction of $301,889.00. Following the transaction, the senior vice president now directly owns 133,780 shares in the company, valued at approximately $2,284,962.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Radius Recycling

A number of hedge funds and other institutional investors have recently bought and sold shares of RDUS. Gladius Capital Management LP purchased a new position in Radius Recycling during the 2nd quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Radius Recycling in the second quarter valued at about $30,000. Founders Capital Management raised its stake in shares of Radius Recycling by 50.0% during the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 600 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in Radius Recycling by 23.6% in the second quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock valued at $45,000 after buying an additional 564 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Radius Recycling in the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors 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.