Russel Metals (TSE:RUS) Sets New 12-Month High – Here’s What Happened

Russel Metals Inc. (TSE:RUS) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$83.12 and last traded at C$83.12, with a volume of 44748 shares trading hands. The stock had previously closed at C$80.40.

Analyst Ratings Changes

Several brokerages recently commented on RUS. National Bank Financial boosted their price target on Russel Metals from C$57.00 to C$75.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th. TD set a C$94.00 target price on Russel Metals and gave the stock a “buy” rating in a report on Monday. Royal Bank Of Canada upped their price objective on Russel Metals from C$68.00 to C$92.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Scotiabank boosted their price objective on Russel Metals from C$76.00 to C$89.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 11th. Finally, Stifel Nicolaus lifted 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. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Russel Metals currently has an average rating of “Moderate Buy” and a consensus target price of C$76.89.

Russel Metals Trading Up 2.4%

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 business’s 50-day moving average is C$73.79 and its two-hundred day moving average is C$61.80. The firm has a market cap of C$4.52 billion, a P/E ratio of 21.00, a P/E/G ratio of 0.59 and a beta of 1.28.

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

Russel Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, August 28th. Russel Metals’s dividend payout ratio (DPR) is currently 44.13%.

Insider Buying and Selling

In other Russel Metals news, insider Martin Leb Juravsky sold 5,682 shares of Russel Metals stock in a transaction that occurred 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 owned 6,674 shares of the company’s stock, valued at C$536,589.60. This trade represents a 45.99% decrease in their position. Also, Director James Francis Dinning sold 3,000 shares of Russel Metals stock in a transaction dated 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 completion of the sale, the director directly owned 16,250 shares of the company’s stock, valued at approximately C$1,300,000. This trade represents a 15.58% decrease in their position. Insiders sold 33,682 shares of company stock valued at $2,735,333 over the last 90 days. Company insiders own 0.85% of the company’s stock.

About Russel Metals

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.