Radius Recycling, Inc. (NASDAQ:RDUS) Short Interest Up 18.6% in January

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

Institutional Investors Weigh In On Radius Recycling

A number of institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its position in shares of Radius Recycling by 17.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company’s stock worth $38,039,000 after acquiring an additional 377,212 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Radius Recycling in the 4th quarter valued at $4,199,000. FMR LLC grew its stake in Radius Recycling by 23.7% during the 3rd quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock valued at $17,638,000 after purchasing an additional 182,435 shares in the last quarter. Icon Advisers Inc. Co. increased its holdings in Radius Recycling by 115.9% during the 4th quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company’s stock worth $4,338,000 after purchasing an additional 153,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Radius Recycling in the 4th quarter valued at approximately $1,964,000. 78.11% of the stock is currently owned by hedge funds and other institutional investors.

Radius Recycling Stock Up 1.9 %

Shares of NASDAQ:RDUS traded up $0.23 during trading hours on Monday, reaching $12.65. The stock had a trading volume of 161,718 shares, compared to its average volume of 252,309. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02. The stock has a market capitalization of $356.22 million, a price-to-earnings ratio of -1.26 and a beta of 1.60. The firm’s 50 day moving average is $14.01 and its 200-day moving average is $15.99. Radius Recycling has a 1 year low of $10.57 and a 1 year high of $25.45.

Radius Recycling (NASDAQ:RDUS) last issued 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). The business had revenue of $656.54 million for the quarter, compared to analysts’ expectations of $665.90 million. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.64) EPS. Research analysts predict that Radius Recycling will post -3.84 earnings per share for the current fiscal 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 5.93%. The ex-dividend date of this dividend is Monday, February 3rd. Radius Recycling’s dividend payout ratio (DPR) is -7.49%.

Analyst Ratings Changes

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

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.