Radius Recycling, Inc. (NASDAQ:RDUS - Get Free Report) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 527,500 shares, a growth of 28.6% from the December 31st total of 410,200 shares. Currently, 2.1% of the company's shares are short sold. Based on an average daily trading volume, of 238,200 shares, the days-to-cover ratio is currently 2.2 days.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. StockNews.com lowered Radius Recycling from a "hold" rating to a "sell" rating in a research report on Thursday, December 26th. The Goldman Sachs Group started coverage on shares of Radius Recycling in a research note on Monday, December 2nd. They set a "neutral" rating and a $22.00 price objective on the stock.
Read Our Latest Analysis on RDUS
Institutional Investors Weigh In On Radius Recycling
Several large investors have recently made changes to their positions in the stock. FMR LLC lifted its position in Radius Recycling by 23.7% in the 3rd quarter. FMR LLC now owns 951,337 shares of the basic materials company's stock valued at $17,638,000 after acquiring an additional 182,435 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Radius Recycling in the 4th quarter valued at about $1,342,000. Algert Global LLC bought a new stake in shares of Radius Recycling in the third quarter valued at about $922,000. Systematic Financial Management LP boosted its position in shares of Radius Recycling by 8.5% during the third quarter. Systematic Financial Management LP now owns 630,962 shares of the basic materials company's stock worth $11,698,000 after buying an additional 49,450 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Radius Recycling by 6.0% during the third quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company's stock worth $11,936,000 after buying an additional 36,618 shares in the last quarter. Institutional investors own 78.11% of the company's stock.
Radius Recycling Trading Up 4.1 %
Shares of RDUS traded up $0.49 during trading hours on Thursday, reaching $12.54. The stock had a trading volume of 174,705 shares, compared to its average volume of 296,963. The firm has a 50-day moving average of $14.86 and a 200 day moving average of $16.23. The company has a quick ratio of 0.97, a current ratio of 2.02 and a debt-to-equity ratio of 0.75. The company has a market cap of $353.13 million, a P/E ratio of -1.25 and a beta of 1.60. Radius Recycling has a 52 week low of $10.57 and a 52 week high of $25.51.
Radius Recycling (NASDAQ:RDUS - Get Free Report) last announced its quarterly earnings results on Tuesday, January 7th. The basic materials company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $656.54 million during the quarter, compared to the consensus estimate of $665.90 million. During the same quarter last year, the company earned ($0.64) earnings per share. The firm's revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts expect that Radius Recycling will post -3.84 earnings per share for the current fiscal year.
Radius Recycling Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend is Monday, February 3rd. Radius Recycling's payout ratio is currently -7.49%.
About Radius Recycling
(
Get Free Report)
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.
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