Russel Metals (TSE:RUS) Hits New 1-Year High – Here’s Why

Russel Metals Inc. (TSE:RUS) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$45.70 and last traded at C$45.69, with a volume of 5776 shares traded. The stock had previously closed at C$45.20.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RUS. Stifel Nicolaus dropped their price target on Russel Metals from C$49.00 to C$48.00 and set a “buy” rating for the company in a research note on Friday, September 19th. National Bankshares boosted their target price on shares of Russel Metals from C$55.00 to C$56.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Scotiabank upgraded shares of Russel Metals to a “strong-buy” rating in a research report on Friday, October 10th. Finally, Raymond James Financial decreased their price objective on shares of Russel Metals from C$56.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$52.00.

Russel Metals Stock Performance

The stock has a market cap of C$2.53 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 0.59 and a beta of 1.10. The company has a quick ratio of 1.44, a current ratio of 3.37 and a debt-to-equity ratio of 20.28. The company has a 50 day simple moving average of C$42.05 and a 200 day simple moving average of C$42.23.

Russel Metals (TSE:RUS) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C$0.63 earnings per share (EPS) for the quarter. The company had revenue of C$1.17 billion for the quarter. Russel Metals had a net margin of 4.27% and a return on equity of 11.03%.

Russel Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Thursday, November 27th. Russel Metals’s dividend payout ratio is presently 58.22%.

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.