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

Radius Recycling, Inc. (NASDAQ:RDUS) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 1,050,000 shares, a growth of 80.1% from the March 15th total of 583,000 shares. Based on an average daily volume of 758,500 shares, the days-to-cover ratio is currently 1.4 days. Approximately 4.0% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Radius Recycling in a report on Thursday, April 10th. They issued a “sell” rating for the company.

Institutional Trading of Radius Recycling

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Radius Recycling by 76.2% in the 1st quarter. GAMMA Investing LLC now owns 948 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 410 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Radius Recycling by 1.9% in the third quarter. Public Employees Retirement System of Ohio now owns 33,186 shares of the basic materials company’s stock worth $615,000 after purchasing an additional 610 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Radius Recycling by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 88,129 shares of the basic materials company’s stock valued at $1,341,000 after purchasing an additional 760 shares during the period. Invesco Ltd. lifted its stake in shares of Radius Recycling by 1.3% during the 4th quarter. Invesco Ltd. now owns 110,932 shares of the basic materials company’s stock valued at $1,688,000 after buying an additional 1,473 shares in the last quarter. Finally, Inceptionr LLC boosted its holdings in Radius Recycling by 11.2% in the 4th quarter. Inceptionr LLC now owns 18,645 shares of the basic materials company’s stock worth $284,000 after buying an additional 1,883 shares during the period. 78.11% of the stock is currently owned by institutional investors.

Radius Recycling Stock Performance

Shares of RDUS stock traded down $0.01 during trading on Thursday, hitting $29.09. The company’s stock had a trading volume of 159,917 shares, compared to its average volume of 374,154. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The company has a market cap of $820.40 million, a PE ratio of -2.90 and a beta of 1.07. The business has a fifty day moving average of $21.40 and a 200-day moving average of $18.11. Radius Recycling has a 52 week low of $10.57 and a 52 week high of $29.54.

Radius Recycling (NASDAQ:RDUS) last announced its earnings results on Friday, April 4th. The basic materials company reported ($0.99) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.08) by $0.09. The firm had revenue of $642.51 million during the quarter, compared to analyst estimates of $635.94 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. As a group, research analysts anticipate that Radius Recycling will post -3.84 earnings per share for the current year.

Radius Recycling Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 21st will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $0.75 annualized dividend and a dividend yield of 2.58%. Radius Recycling’s payout ratio is currently -7.52%.

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.