Short Interest in Radius Recycling, Inc. (NASDAQ:RDUS) Rises By 80.1%

Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) was the target of a significant 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 shares of the company are sold short. Based on an average daily volume of 758,500 shares, the short-interest ratio is presently 1.4 days.

Radius Recycling Stock Performance

Shares of NASDAQ RDUS traded up $0.03 during midday trading on Monday, hitting $28.95. The company's stock had a trading volume of 756,008 shares, compared to its average volume of 378,545. The stock has a fifty day moving average price of $22.05 and a 200 day moving average price of $18.26. The firm has a market capitalization of $816.45 million, a price-to-earnings ratio of -2.89 and a beta of 1.07. Radius Recycling has a one year low of $10.57 and a one year high of $29.26. 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 - Get Free Report) last issued its quarterly earnings data on Friday, April 4th. The basic materials company reported ($0.99) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.08) by $0.09. Radius Recycling had a negative return on equity of 14.16% and a negative net margin of 10.49%. The business had revenue of $642.51 million for the quarter, compared to analysts' expectations of $635.94 million. On average, research analysts forecast that Radius Recycling will post -3.84 EPS for the current fiscal year.

Radius Recycling Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 21st will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Monday, April 21st. Radius Recycling's payout ratio is -7.52%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RDUS. BNP Paribas Financial Markets raised its holdings in shares of Radius Recycling by 87.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,502 shares of the basic materials company's stock valued at $232,000 after acquiring an additional 5,815 shares in the last quarter. Stifel Financial Corp raised its stake in Radius Recycling by 28.6% in the third quarter. Stifel Financial Corp now owns 20,052 shares of the basic materials company's stock valued at $372,000 after purchasing an additional 4,455 shares in the last quarter. Jane Street Group LLC lifted its position 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 valued at $1,684,000 after purchasing an additional 35,073 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Radius Recycling by 1.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 33,186 shares of the basic materials company's stock worth $615,000 after buying an additional 610 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Radius Recycling by 156.2% in the 3rd quarter. Barclays PLC now owns 58,337 shares of the basic materials company's stock worth $1,081,000 after buying an additional 35,568 shares during the last quarter. Institutional investors own 78.11% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Radius Recycling in a research note on Friday. They issued a "sell" rating on the stock.

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.