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

Radius Recycling, Inc. (NASDAQ:RDUS) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 564,500 shares, an increase of 21.9% from the March 31st total of 463,100 shares. Based on an average daily volume of 234,100 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.2% of the company’s shares are short sold.

Institutional Investors Weigh In On Radius Recycling

Hedge funds have recently added to or reduced their stakes in the company. Millburn Ridgefield Corp acquired a new stake in Radius Recycling in the first quarter valued at approximately $33,000. Unison Advisors LLC purchased a new position in shares of Radius Recycling during the first quarter valued at approximately $226,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Radius Recycling during the first quarter valued at approximately $367,000. Green Alpha Advisors LLC purchased a new position in shares of Radius Recycling during the first quarter valued at approximately $967,000. Finally, Fisher Asset Management LLC purchased a new position in shares of Radius Recycling during the fourth quarter valued at approximately $4,488,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

Radius Recycling Trading Down 1.3 %

RDUS stock traded down $0.24 during mid-day trading on Friday, reaching $17.90. The company’s stock had a trading volume of 206,220 shares, compared to its average volume of 305,797. The company has a current ratio of 1.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.43. Radius Recycling has a 12 month low of $16.90 and a 12 month high of $36.64. The business’s 50 day moving average price is $19.89 and its 200 day moving average price is $24.06. The company has a market cap of $500.88 million, a price-to-earnings ratio of -7.85 and a beta of 1.60.

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

Radius Recycling Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Seaport Res Ptn downgraded Radius Recycling from a “neutral” rating to a “sell” rating in a report on Wednesday, February 28th. StockNews.com upgraded Radius Recycling from a “sell” rating to a “hold” rating in a report on Wednesday.

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.