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

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) was the target of a large 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. Approximately 2.4% of the company's shares are sold short. Based on an average daily trading volume, of 246,700 shares, the days-to-cover ratio is currently 2.5 days.

Radius Recycling Trading Down 4.7 %

Shares of NASDAQ:RDUS traded down $0.64 during midday trading on Wednesday, reaching $12.88. The company's stock had a trading volume of 237,864 shares, compared to its average volume of 276,711. The firm has a market capitalization of $362.70 million, a price-to-earnings ratio of -1.29 and a beta of 1.60. The firm has a 50 day moving average price of $13.66 and a two-hundred day moving average price of $15.92. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.02. Radius Recycling has a fifty-two week low of $10.57 and a fifty-two week high of $24.94.

Radius Recycling (NASDAQ:RDUS - Get Free Report) last posted its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The company had revenue of $656.54 million during the quarter, compared to analyst estimates of $665.90 million. During the same quarter in the previous year, the business posted ($0.64) earnings per share. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, analysts forecast that Radius Recycling will post -3.84 earnings per share for the current year.

Radius Recycling Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.1875 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.75 annualized dividend and a yield of 5.82%. Radius Recycling's payout ratio is -7.49%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of Radius Recycling from a "hold" rating to a "sell" rating in a report on Thursday, December 26th. The Goldman Sachs Group assumed coverage on shares of Radius Recycling in a research note on Monday, December 2nd. They issued a "neutral" rating and a $22.00 price objective on the stock.

Institutional Investors Weigh In On Radius Recycling

Several hedge funds and other institutional investors have recently made changes to their positions in the business. E. Ohman J or Asset Management AB boosted its stake in Radius Recycling by 29.9% during the 4th quarter. E. Ohman J or Asset Management AB now owns 98,650 shares of the basic materials company's stock valued at $1,501,000 after purchasing an additional 22,700 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Radius Recycling by 67.1% during the third quarter. JPMorgan Chase & Co. now owns 82,919 shares of the basic materials company's stock valued at $1,537,000 after buying an additional 33,298 shares during the last quarter. Jane Street Group LLC grew its holdings in Radius Recycling by 62.9% during the third quarter. Jane Street Group LLC now owns 90,813 shares of the basic materials company's stock worth $1,684,000 after buying an additional 35,073 shares in the last quarter. Barclays PLC raised its position in Radius Recycling by 156.2% in the 3rd quarter. Barclays PLC now owns 58,337 shares of the basic materials company's stock valued at $1,081,000 after buying an additional 35,568 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Radius Recycling by 6.0% in 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 buying an additional 36,618 shares during the last quarter. 78.11% of the stock is owned by institutional investors.

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.