Russel Metals (OTCMKTS:RUSMF) Stock Falls 3.1% – Should You Sell?

Russel Metals Inc. (OTCMKTS:RUSMF) dropped 3.1% during mid-day trading on Monday. The stock traded as low as $64.8655 and last traded at $64.8655. Approximately 8,018 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 17,384 shares. The stock had previously closed at $66.95.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Raymond James Financial lowered Russel Metals to a “market perform” rating in a research note on Monday, August 10th. Scotiabank reiterated an “outperform” rating on shares of Russel Metals in a research report on Monday. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Russel Metals in a report on Wednesday, September 30th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Russel Metals presently has an average rating of “Moderate Buy”.

Russel Metals Price Performance

The business has a 50-day simple moving average of $55.33 and a two-hundred day simple moving average of $46.27.

Russel Metals Company Profile

Russel Metals Inc is a Canadian metals distribution and processing company that supplies a broad range of steel and other metal products to industrial, commercial and energy-sector customers. Its offerings include carbon steel, stainless steel, aluminum, pipe, valves, fittings and related products.

The company operates through metals service centers, which provide inventory management, cutting, shearing, forming and other value-added processing services. It also serves the energy industry through specialized distribution operations supplying products used in oil and gas, pipeline, utility and related infrastructure applications.

Founded in 1929, Russel Metals serves customers across Canada and the United States through a network of service centers and distribution facilities.