Russel Metals (TSE:RUS) Reaches New 52-Week High – What’s Next?
by Danessa Lincoln · The Markets DailyRussel Metals Inc. (TSE:RUS – Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as C$83.12 and last traded at C$83.12, with a volume of 44748 shares. The stock had previously closed at C$80.40.
Analyst Ratings Changes
RUS has been the subject of several recent research reports. Scotiabank boosted their price target on shares of Russel Metals from C$76.00 to C$89.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 11th. Raymond James Financial cut Russel Metals from a “moderate buy” rating to a “hold” rating and raised their price objective for the company from C$70.00 to C$82.00 in a research note on Monday, August 10th. National Bank Financial lifted their price objective on Russel Metals from C$57.00 to C$75.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. Stifel Nicolaus boosted their target price on Russel Metals from C$64.00 to C$85.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Finally, Royal Bank Of Canada increased their target price on Russel Metals from C$68.00 to C$92.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$76.89.
Read Our Latest Analysis on RUS
Russel Metals Stock Up 1.4%
The company has a market capitalization of C$4.57 billion, a P/E ratio of 21.22, a PEG ratio of 0.59 and a beta of 1.28. The company has a debt-to-equity ratio of 27.88, a current ratio of 2.61 and a quick ratio of 1.44. The company has a 50 day moving average of C$74.40 and a 200-day moving average of C$62.29.
Russel Metals (TSE:RUS – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported C$1.63 EPS for the quarter. The business had revenue of C$1.66 billion during the quarter. Russel Metals had a return on equity of 13.09% and a net margin of 4.04%.
Russel Metals Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, August 28th. Russel Metals’s dividend payout ratio is currently 44.13%.
Insider Buying and Selling
In other Russel Metals news, insider Martin Leb Juravsky sold 5,682 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of C$80.40, for a total transaction of C$456,832.80. Following the transaction, the insider directly owned 6,674 shares of the company’s stock, valued at approximately C$536,589.60. The trade was a 45.99% decrease in their position. Also, Director James Francis Dinning sold 3,000 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of C$80.00, for a total transaction of C$240,000.00. Following the completion of the transaction, the director owned 16,250 shares of the company’s stock, valued at C$1,300,000. This trade represents a 15.58% decrease in their ownership of the stock. Insiders sold 33,682 shares of company stock valued at $2,735,333 over the last quarter. 0.85% of the stock is owned by company insiders.
Russel Metals Company Profile
Russel Metals is one of the largest metals distribution companies in North America with a growing focus on value-added processing. It carries on business in three segments: metals service centers, energy field stores and steel distributors. Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals.