Russel Metals (TSE:RUS) Sets New 52-Week High – Here’s What Happened

Russel Metals Inc. (TSE:RUS) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$48.82 and last traded at C$48.71, with a volume of 376409 shares. The stock had previously closed at C$48.51.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. National Bankshares upped their price target on 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 lifted their price target on shares of Russel Metals from C$48.00 to C$52.00 in a report on Thursday. Finally, Royal Bank Of Canada upped their price objective on shares of Russel Metals from C$47.00 to C$51.00 in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$51.83.

Russel Metals Price Performance

The company has a debt-to-equity ratio of 20.28, a current ratio of 3.37 and a quick ratio of 1.44. The firm’s 50 day moving average is C$44.39 and its 200 day moving average is C$42.66. The firm has a market cap of C$2.69 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 0.59 and a beta of 1.10.

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

Russel Metals Announces Dividend

The business also recently announced 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 3.6%. The ex-dividend date of this dividend was Thursday, November 27th. Russel Metals’s dividend payout ratio is currently 58.22%.

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.