Radius Recycling, Inc. (NASDAQ:RDUS) Short Interest Up 21.9% in April

Radius Recycling, Inc. (NASDAQ:RDUS) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 564,500 shares, a growth of 21.9% from the March 31st total of 463,100 shares. Based on an average trading volume of 234,100 shares, the short-interest ratio is presently 2.4 days. Approximately 2.2% of the company’s stock are sold short.

Institutional Trading of Radius Recycling

A number of institutional investors and hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC bought a new stake in shares of Radius Recycling in the 4th quarter worth $4,488,000. Green Alpha Advisors LLC bought a new stake in shares of Radius Recycling in the 1st quarter worth $967,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Radius Recycling in the 1st quarter worth $367,000. Unison Advisors LLC bought a new stake in shares of Radius Recycling in the 1st quarter worth $226,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of Radius Recycling in the 1st quarter worth $33,000. Institutional investors own 78.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. StockNews.com raised Radius Recycling from a “sell” rating to a “hold” rating in a research report on Wednesday. Seaport Res Ptn lowered Radius Recycling from a “neutral” rating to a “sell” rating in a research report on Wednesday, February 28th.

Radius Recycling Stock Down 1.3 %

Shares of NASDAQ:RDUS traded down $0.24 during trading on Friday, hitting $17.90. The stock had a trading volume of 206,220 shares, compared to its average volume of 305,797. Radius Recycling has a 12 month low of $16.90 and a 12 month high of $36.64. The company has a quick ratio of 0.92, a current ratio of 1.96 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $500.88 million, a PE ratio of -7.85 and a beta of 1.60. The firm’s fifty day moving average is $19.89 and its 200 day moving average is $24.06.

Radius Recycling (NASDAQ:RDUS) last announced its quarterly earnings data on Thursday, April 4th. The basic materials company reported ($1.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.05. The business had revenue of $621.06 million during the quarter, compared to analysts’ expectations of $626.35 million. Radius Recycling had a negative return on equity of 1.73% and a negative net margin of 2.28%. The firm’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 earnings per share. Analysts anticipate that Radius Recycling will post -3.53 EPS for the current fiscal year.

Radius Recycling Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 22nd will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, April 19th. Radius Recycling’s payout ratio is -32.89%.

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.