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

Radius Recycling, Inc. (NASDAQ:RDUS) was the target of 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 trading volume of 238,200 shares, the days-to-cover ratio is presently 2.2 days. Approximately 2.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Radius Recycling

Several hedge funds have recently bought and sold shares of RDUS. Founders Capital Management boosted its stake in shares of Radius Recycling by 50.0% in the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in 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 valued at $615,000 after buying an additional 610 shares in the last quarter. Green Alpha Advisors LLC grew its stake in shares of Radius Recycling by 2.1% during the third quarter. Green Alpha Advisors LLC now owns 44,228 shares of the basic materials company’s stock worth $820,000 after buying an additional 925 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Radius Recycling by 10.7% during the second quarter. The Manufacturers Life Insurance Company now owns 10,589 shares of the basic materials company’s stock worth $162,000 after buying an additional 1,020 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Radius Recycling in the 3rd quarter valued at $32,000. 78.11% of the stock is owned by institutional investors.

Radius Recycling Stock Performance

Shares of Radius Recycling stock traded up $0.06 during trading on Monday, reaching $11.88. The company’s stock had a trading volume of 168,599 shares, compared to its average volume of 309,663. 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 business’s 50-day moving average price is $15.48 and its 200-day moving average price is $16.36. Radius Recycling has a 52 week low of $10.57 and a 52 week high of $25.51. The firm has a market cap of $334.43 million, a PE ratio of -1.19 and a beta of 1.60.

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

Radius Recycling Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.75 annualized dividend and a yield of 6.32%. Radius Recycling’s dividend payout ratio is -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.