Russel Metals (TSE:RUS) Price Target Raised to C$107.00

Russel Metals (TSE:RUS) had its target price raised by Royal Bank Of Canada from C$92.00 to C$107.00 in a research report report published on Wednesday,BayStreet reports.

A number of other equities research analysts have also recently issued reports on RUS. Scotiabank raised their target price on Russel Metals from C$76.00 to C$89.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 11th. Stifel Nicolaus upped their price target on shares of Russel Metals from C$64.00 to C$85.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. National Bank Financial lifted their price objective on shares of Russel Metals from C$57.00 to C$75.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. TD set a C$94.00 target price on shares of Russel Metals and gave the company a “buy” rating in a research note on Monday, September 21st. Finally, Raymond James Financial cut shares of Russel Metals from a “moderate buy” rating to a “hold” rating and upped their target price for the stock from C$70.00 to C$82.00 in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Russel Metals has a consensus rating of “Moderate Buy” and a consensus target price of C$78.56.

Russel Metals Stock Up 3.3%

TSE:RUS opened at C$95.21 on Wednesday. The company has a current ratio of 2.61, a quick ratio of 1.44 and a debt-to-equity ratio of 27.88. The stock has a 50 day moving average of C$77.10 and a 200-day moving average of C$64.24. The firm has a market capitalization of C$5.23 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 0.59 and a beta of 1.28. Russel Metals has a 52 week low of C$39.09 and a 52 week high of C$95.97.

Russel Metals (TSE:RUS) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$1.63 earnings per share (EPS) for the quarter. Russel Metals had a return on equity of 13.09% and a net margin of 4.04%.The business had revenue of C$1.66 billion for the quarter.

Russel Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, August 28th. Russel Metals’s payout ratio is 44.13%.

Insider Transactions at Russel Metals

In related news, insider Martin Leb Juravsky sold 5,682 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of C$80.40, for a total transaction of C$456,832.80. Following the sale, the insider owned 6,674 shares of the company’s stock, valued at C$536,589.60. The trade was a 45.99% decrease in their ownership of the stock. Also, Director James Francis Dinning sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of C$80.00, for a total value of C$240,000.00. Following the sale, the director directly owned 16,250 shares in the company, valued at approximately C$1,300,000. The trade was a 15.58% decrease in their position. In the last three months, insiders sold 33,682 shares of company stock valued at $2,735,333. Company insiders own 0.85% of the company’s stock.

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.