Radius Recycling (NASDAQ:RDUS) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

Radius Recycling, Inc. (NASDAQ:RDUS) saw unusually-high trading volume on Friday following a better than expected earnings announcement. Approximately 932,074 shares were traded during 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.09. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The firm had revenue of $642.51 million during the quarter, compared to analyst estimates of $635.94 million.

Radius Recycling Dividend Announcement

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

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Radius Recycling in a research report on Wednesday. They set a “sell” rating for the company.

Institutional Investors Weigh In On Radius Recycling

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Radius Recycling during the third quarter worth $32,000. Point72 DIFC Ltd acquired a new stake in Radius Recycling during the 3rd quarter worth about $46,000. Aquatic Capital Management LLC acquired a new stake in Radius Recycling during the 4th quarter worth about $68,000. SG Americas Securities LLC purchased a new stake in Radius Recycling during the fourth quarter valued at about $140,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Radius Recycling in the fourth quarter worth about $160,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

Radius Recycling Stock Performance

The firm’s 50-day moving average price is $18.07 and its two-hundred day moving average price is $17.35. 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 has a market capitalization of $814.81 million, a PE ratio of -2.89 and a beta of 1.67.

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.