Russel Metals (TSE:RUS) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Russel Metals Inc. (TSE:RUS) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$50.87 and traded as high as C$61.15. Russel Metals shares last traded at C$60.24, with a volume of 402,422 shares trading hands.

Analysts Set New Price Targets

Several analysts have commented on the stock. TD raised their target price on shares of Russel Metals from C$63.00 to C$68.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Raymond James Financial upped their price target on shares of Russel Metals from C$65.00 to C$70.00 in a report on Friday, June 5th. National Bank Financial increased their price objective on shares of Russel Metals from C$51.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Royal Bank Of Canada boosted their price objective on shares of Russel Metals from C$55.00 to C$63.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Finally, Stifel Nicolaus upped their target price on shares of Russel Metals from C$49.00 to C$58.50 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Russel Metals has a consensus rating of “Moderate Buy” and an average target price of C$60.06.

Russel Metals Trading Down 0.7%

The company has a debt-to-equity ratio of 29.50, a quick ratio of 1.44 and a current ratio of 2.86. The firm has a fifty day moving average price of C$58.36 and a 200 day moving average price of C$50.93. The company has a market cap of C$3.28 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 0.59 and a beta of 1.16.

Russel Metals (TSE:RUS) last issued its earnings results on Tuesday, May 5th. The company reported C$1.30 earnings per share for the quarter. The business had revenue of C$1.42 billion for the quarter. Russel Metals had a net margin of 4.04% and a return on equity of 12.22%.

Russel Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, May 28th. This represents a $1.76 annualized dividend and a dividend yield of 2.9%. Russel Metals’s payout ratio is currently 48.31%.

Insider Activity

In related news, Director Brian Robie Hedges sold 10,000 shares of Russel Metals stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of C$63.25, for a total transaction of C$632,500.00. Also, insider John Gregory Reid sold 28,935 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of C$58.62, for a total value of C$1,696,169.70. Following the transaction, the insider directly owned 306,147 shares in the company, valued at approximately C$17,946,337.14. This trade represents a 8.64% decrease in their position. Over the last quarter, insiders have sold 73,935 shares of company stock valued at $4,430,667. 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.