Short Interest in Radius Recycling, Inc. (NASDAQ:RDUS) Increases By 18.6%

Radius Recycling, Inc. (NASDAQ:RDUS) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 625,500 shares, an increase of 18.6% from the January 15th total of 527,500 shares. Based on an average daily volume of 246,700 shares, the short-interest ratio is currently 2.5 days. Approximately 2.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. 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 buying an additional 610 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Radius Recycling by 10.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,589 shares of the basic materials company’s stock valued at $162,000 after buying an additional 1,020 shares in the last quarter. Invesco Ltd. boosted its holdings 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. Quarry LP bought a new stake in shares of Radius Recycling during the 3rd quarter valued at $32,000. Finally, Inceptionr LLC boosted its holdings in shares of Radius Recycling by 11.2% during the 4th quarter. Inceptionr LLC now owns 18,645 shares of the basic materials company’s stock valued at $284,000 after buying an additional 1,883 shares in the last quarter. 78.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Radius Recycling Price Performance

Shares of RDUS stock traded up $0.23 during trading hours on Friday, reaching $12.65. The stock had a trading volume of 161,718 shares, compared to its average volume of 252,309. Radius Recycling has a 12 month low of $10.57 and a 12 month high of $25.45. 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 $14.01 and its 200 day simple moving average is $16.01.

Radius Recycling (NASDAQ:RDUS) last announced its 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 for 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 revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.64) earnings per share. As a group, analysts expect that Radius Recycling will post -3.84 EPS 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 paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is presently -7.49%.

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.