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

Radius Recycling, Inc. (NASDAQ:RDUS) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,050,000 shares, an increase of 80.1% from the March 15th total of 583,000 shares. Currently, 4.0% of the company’s stock are sold short. Based on an average daily trading volume, of 758,500 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Radius Recycling by 17.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,499,259 shares of the basic materials company’s stock valued at $38,039,000 after purchasing an additional 377,212 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Radius Recycling in the fourth quarter valued at approximately $4,199,000. Icon Advisers Inc. Co. grew its stake in shares of Radius Recycling by 115.9% in the fourth quarter. Icon Advisers Inc. Co. now owns 285,000 shares of the basic materials company’s stock worth $4,338,000 after acquiring an additional 153,000 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Radius Recycling by 447.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 157,929 shares of the basic materials company’s stock valued at $2,404,000 after buying an additional 129,086 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in Radius Recycling in the fourth quarter worth $1,964,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

Radius Recycling Stock Performance

RDUS stock traded up $0.05 on Wednesday, reaching $29.11. The company’s stock had a trading volume of 229,501 shares, compared to its average volume of 373,146. The firm has a fifty day moving average of $21.07 and a two-hundred day moving average of $18.04. 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 company has a market capitalization of $820.96 million, a P/E ratio of -2.91 and a beta of 1.07. Radius Recycling has a 52 week low of $10.57 and a 52 week high of $29.20.

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

Radius Recycling Dividend Announcement

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

Analyst Ratings Changes

Separately, StockNews.com began coverage on Radius Recycling in a research note on Thursday, April 10th. They issued a “sell” rating for the company.

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.