Radius Recycling, Inc. (NASDAQ:RDUS) Sees Significant Growth in Short Interest

Radius Recycling, Inc. (NASDAQ:RDUS) was the recipient of a large growth in short interest in the month of 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 trading volume, of 758,500 shares, the short-interest ratio is currently 1.4 days. Approximately 4.0% of the company’s stock are short sold.

Radius Recycling Stock Up 0.0 %

NASDAQ RDUS traded up $0.01 during mid-day trading on Friday, reaching $29.11. 533,956 shares of the company’s stock traded hands, compared to its average volume of 376,010. The company has a fifty day simple moving average of $21.73 and a 200-day simple moving average of $18.19. Radius Recycling has a 1-year low of $10.57 and a 1-year high of $29.20. The company has a market cap of $820.96 million, a price-to-earnings ratio of -2.91 and a beta of 1.07. The company has a current ratio of 2.02, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75.

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

Radius Recycling Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Radius Recycling

A number of hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its stake in Radius Recycling by 17.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company’s stock valued at $38,039,000 after buying an additional 377,212 shares in the last quarter. Systematic Financial Management LP increased its holdings in shares of Radius Recycling by 9.2% in the 4th quarter. Systematic Financial Management LP now owns 689,315 shares of the basic materials company’s stock valued at $10,491,000 after acquiring an additional 58,353 shares during the last quarter. Geode Capital Management LLC raised its position 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 valued at $11,936,000 after acquiring an additional 36,618 shares in the last quarter. Icon Advisers Inc. Co. lifted its stake in Radius Recycling by 115.9% during the fourth 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, KLP Kapitalforvaltning AS acquired a new position in Radius Recycling in the fourth quarter worth $4,199,000. 78.11% of the stock is currently owned by institutional investors and hedge funds.

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.