Short Interest in Radius Recycling, Inc. (NASDAQ:RDUS) Declines By 15.9%

Radius Recycling, Inc. (NASDAQ:RDUS) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 410,200 shares, a drop of 15.9% from the December 15th total of 487,700 shares. Based on an average daily volume of 216,200 shares, the short-interest ratio is presently 1.9 days. Currently, 1.6% of the company’s shares are short sold.

Insider Activity at Radius Recycling

In related news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total value of $301,889.00. Following the completion of the transaction, the senior vice president now directly owns 133,780 shares of the company’s stock, valued at $2,284,962.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.90% of the stock is owned by insiders.

Institutional Trading of Radius Recycling

Hedge funds have recently bought and sold shares of the company. Founders Capital Management grew its stake in shares of Radius Recycling by 50.0% during the 3rd quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 600 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Radius Recycling by 1.9% in the third 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 during the last quarter. Green Alpha Advisors LLC grew its position in Radius Recycling by 2.1% during the third quarter. Green Alpha Advisors LLC now owns 44,228 shares of the basic materials company’s stock valued at $820,000 after buying an additional 925 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Radius Recycling by 10.7% during the second quarter. The Manufacturers Life Insurance Company now owns 10,589 shares of the basic materials company’s stock valued at $162,000 after buying an additional 1,020 shares during the last quarter. Finally, Quarry LP bought a new position in Radius Recycling in the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 78.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RDUS shares. The Goldman Sachs Group assumed coverage on shares of Radius Recycling in a report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 target price for the company. StockNews.com lowered shares of Radius Recycling from a “hold” rating to a “sell” rating in a report on Thursday, December 26th.

Radius Recycling Stock Up 4.5 %

Radius Recycling stock opened at $12.09 on Friday. Radius Recycling has a one year low of $10.57 and a one year high of $27.70. The business’s fifty day moving average is $16.85 and its 200 day moving average is $16.60. The company has a quick ratio of 1.00, a current ratio of 2.02 and a debt-to-equity ratio of 0.75.

Radius Recycling (NASDAQ:RDUS) 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 analysts’ consensus estimates of ($0.66) by ($0.67). Radius Recycling had a negative net margin of 10.49% and a negative return on equity of 14.16%. The company had revenue of $656.54 million for the quarter, compared to analysts’ expectations of $665.90 million. During the same period in the previous year, the business earned ($0.64) EPS. The business’s revenue was down 2.4% compared to the same quarter last year. Equities analysts anticipate that Radius Recycling will post -1.02 earnings per share for the current fiscal year.

Radius Recycling Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 6.20%. Radius Recycling’s dividend payout ratio (DPR) is currently -7.49%.

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.