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

Radius Recycling, Inc. (NASDAQ:RDUS) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 410,200 shares, a decline of 15.9% from the December 15th total of 487,700 shares. Based on an average trading volume of 216,200 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.6% of the company’s stock are sold short.

Insider Buying and Selling at Radius Recycling

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction on 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 of the company’s stock, valued at $2,284,962.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.90% of the company’s stock.

Institutional Trading of Radius Recycling

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 3rd 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 3rd 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. American Century Companies Inc. increased its position in shares of Radius Recycling by 2.9% during the second quarter. American Century Companies Inc. now owns 564,717 shares of the basic materials company’s stock valued at $8,623,000 after purchasing an additional 16,162 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Radius Recycling by 5.3% in the third quarter. Empowered Funds LLC now owns 126,884 shares of the basic materials company’s stock valued at $2,352,000 after purchasing an additional 6,432 shares in the last quarter. 78.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Radius Recycling Stock Performance

RDUS traded up $0.52 during trading on Thursday, hitting $12.09. The stock had a trading volume of 299,605 shares, compared to its average volume of 398,561. The firm has a market cap of $339.00 million, a PE ratio of -1.21 and a beta of 1.64. The company has a current ratio of 2.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.75. Radius Recycling has a 12 month low of $10.57 and a 12 month high of $27.70. The company has a 50 day simple moving average of $16.85 and a 200-day simple moving average of $16.60.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings data on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The business had revenue of $656.54 million during the quarter, compared to the consensus estimate of $665.90 million. During the same quarter in the previous year, the firm posted ($0.64) earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts expect that Radius Recycling will post -1.02 EPS for the current year.

Radius Recycling Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date of this dividend is Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is currently -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.