Radius Recycling, Inc. (NASDAQ:RDUS) Short Interest Up 28.6% in January

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RDUS. StockNews.com cut shares of Radius Recycling from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. The Goldman Sachs Group began coverage on shares of Radius Recycling in a research note on Monday, December 2nd. They set a “neutral” rating and a $22.00 target price for the company.

Radius Recycling Stock Performance

RDUS stock traded down $0.12 during midday trading on Monday, hitting $11.89. 238,098 shares of the stock traded hands, compared to its average volume of 313,548. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.02 and a quick ratio of 0.97. The stock’s fifty day simple moving average is $15.31 and its 200-day simple moving average is $16.32. The firm has a market cap of $334.82 million, a P/E ratio of -1.19 and a beta of 1.60. Radius Recycling has a 1-year low of $10.57 and a 1-year high of $25.51.

Radius Recycling (NASDAQ:RDUS) last announced its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The company had revenue of $656.54 million for the quarter, compared to analyst estimates of $665.90 million. During the same quarter in the prior year, the business earned ($0.64) earnings per share. Radius Recycling’s revenue was down 2.4% on a year-over-year basis. On average, analysts expect that Radius Recycling will post -3.84 earnings per share for the current year.

Radius Recycling Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be issued 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 (DPR) is -7.49%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RDUS. FMR LLC raised its position in Radius Recycling by 23.7% in 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. Algert Global LLC acquired a new stake in Radius Recycling during the third quarter worth about $922,000. Systematic Financial Management LP lifted its stake in 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 during the period. Geode Capital Management LLC raised its stake in shares of Radius Recycling by 6.0% in 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 acquiring an additional 36,618 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Radius Recycling by 156.2% during the third quarter. Barclays PLC now owns 58,337 shares of the basic materials company’s stock worth $1,081,000 after acquiring an additional 35,568 shares during the last quarter. Institutional investors and hedge funds 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.