Russel Metals Inc. Plans Quarterly Dividend of $0.42 (TSE:RUS)

Russel Metals Inc. (TSE:RUS) declared a quarterly dividend on Wednesday, July 31st, TickerTech reports. Shareholders of record on Wednesday, August 28th will be paid a dividend of 0.42 per share on Monday, September 16th. This represents a $1.68 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend is Wednesday, August 28th.

Russel Metals Price Performance

TSE RUS traded down C$1.01 on Friday, reaching C$38.30. 85,269 shares of the stock traded hands, compared to its average volume of 185,909. The firm’s fifty day simple moving average is C$37.75 and its 200 day simple moving average is C$40.98. The company has a quick ratio of 1.44, a current ratio of 4.37 and a debt-to-equity ratio of 25.43. The company has a market cap of C$2.30 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 0.59 and a beta of 1.57. Russel Metals has a 12 month low of C$33.38 and a 12 month high of C$47.39.

Russel Metals (TSE:RUS) last released its quarterly earnings data on Wednesday, May 1st. The company reported C$0.82 earnings per share for the quarter, topping the consensus estimate of C$0.80 by C$0.02. The business had revenue of C$1.06 billion during the quarter, compared to analyst estimates of C$1.16 billion. Russel Metals had a return on equity of 14.72% and a net margin of 5.54%. As a group, research analysts predict that Russel Metals will post 3.5267452 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reduced their price objective on Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 2nd. TD Securities reduced their target price on Russel Metals from C$48.00 to C$45.00 and set a “hold” rating for the company in a report on Thursday, April 25th. National Bankshares reduced their target price on Russel Metals from C$48.00 to C$47.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Scotiabank reduced their target price on Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating for the company in a report on Wednesday, April 17th. Finally, BMO Capital Markets reduced their target price on Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$47.21.

Insider Buying and Selling

In other news, Director Stewart Burton acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was acquired at an average cost of C$36.35 per share, for a total transaction of C$109,050.00. 0.81% of the stock is owned by corporate insiders.

Russel Metals Company Profile

Russel Metals Inc operates as a metal distribution and processing company in Canada and the United States. It operates in three segments: Metals Service Centers, Energy Field Stores, and Steel Distribution. The Metal Service Centers segment operates a network of metals service centers, which provide metal products in range of sizes, shapes, and specifications, including carbon hot rolled and cold finished steel, pipe and tubular, stainless steel, aluminum, and other non-ferrous specialty metal products.