Radius Recycling, Inc. (NASDAQ:RDUS) Short Interest Update

Radius Recycling, Inc. (NASDAQ:RDUS) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 527,500 shares, a growth of 28.6% from the December 31st total of 410,200 shares. Based on an average daily trading volume, of 238,200 shares, the days-to-cover ratio is currently 2.2 days. Currently, 2.1% of the shares of the company are sold short.

Analysts Set New Price Targets

RDUS has been the subject of several research analyst reports. StockNews.com lowered shares of Radius Recycling from a “hold” rating to a “sell” rating in a research note 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 target price on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. FMR LLC grew its position in 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 buying an additional 182,435 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 worth $11,936,000 after purchasing an additional 36,618 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of Radius Recycling by 8.5% during the third quarter. Systematic Financial Management LP now owns 630,962 shares of the basic materials company’s stock worth $11,698,000 after purchasing an additional 49,450 shares in the last quarter. Empowered Funds LLC increased its position in shares of Radius Recycling by 5.1% in the fourth quarter. Empowered Funds LLC now owns 133,356 shares of the basic materials company’s stock worth $2,030,000 after purchasing an additional 6,472 shares during the last quarter. Finally, Perpetual Ltd raised its stake in Radius Recycling by 9.2% in the fourth quarter. Perpetual Ltd now owns 131,905 shares of the basic materials company’s stock valued at $2,008,000 after purchasing an additional 11,060 shares in the last quarter. Institutional investors own 78.11% of the company’s stock.

Radius Recycling Stock Performance

RDUS traded down $0.12 on Monday, hitting $11.89. The company’s stock had a trading volume of 238,098 shares, compared to its average volume of 313,548. Radius Recycling has a 12 month low of $10.57 and a 12 month high of $25.51. The firm has a market cap of $334.82 million, a P/E ratio of -1.19 and a beta of 1.60. 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 50 day simple moving average is $15.48 and its 200-day simple moving average is $16.36.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings data 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 company had revenue of $656.54 million for 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 business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the company posted ($0.64) EPS. Analysts forecast that Radius Recycling will post -3.84 EPS for the current year.

Radius Recycling Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 6.31%. The ex-dividend date of this dividend is Monday, February 3rd. Radius Recycling’s dividend payout ratio is presently -7.49%.

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.