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

Russel Metals Inc. (TSE:RUS) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$53.68 and traded as high as C$69.84. Russel Metals shares last traded at C$69.60, with a volume of 181,837 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on RUS. BMO Capital Markets raised their price objective on Russel Metals from C$51.00 to C$56.00 in a research note on Wednesday, May 6th. Stifel Nicolaus upped their price target on Russel Metals from C$49.00 to C$58.50 and gave the stock a “hold” rating in a report on Thursday, May 7th. National Bank Financial raised their price objective on Russel Metals from C$52.00 to C$57.00 and gave the company a “sector perform” rating in a report on Monday, July 13th. Scotia upped their target price on Russel Metals from C$54.00 to C$62.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 7th. Finally, Raymond James Financial lifted their price target on shares of Russel Metals from C$65.00 to C$70.00 in a research note on Friday, June 5th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$61.17.

Russel Metals Stock Performance

The company has a market cap of C$3.88 billion, a PE ratio of 19.86, a PEG ratio of 0.59 and a beta of 1.21. 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’s 50 day moving average is C$62.66 and its 200-day moving average is C$53.86.

Russel Metals (TSE:RUS) last released 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, May 28th. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. Russel Metals’s dividend payout ratio (DPR) is presently 48.31%.

Insider Buying and Selling

In other Russel Metals news, insider Martin Leb Juravsky sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of C$63.28, for a total value of C$316,400.00. Following the completion of the sale, the insider directly owned 12,356 shares of the company’s stock, valued at C$781,887.68. This trade represents a 28.81% decrease in their position. Also, Director James Francis Dinning sold 2,500 shares of Russel Metals stock in a transaction dated Friday, May 29th. The stock was sold at an average price of C$62.10, for a total transaction of C$155,250.00. Following the transaction, the director directly owned 19,250 shares in the company, valued at C$1,195,425. This trade represents a 11.49% decrease in their ownership of the stock. Over the last three months, insiders sold 73,935 shares of company stock worth $4,430,667. 0.85% of the stock is currently owned by corporate insiders.

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.