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

Russel Metals Inc. (TSE:RUS)’s stock price hit a new 52-week high on Monday . The company traded as high as C$70.97 and last traded at C$70.97, with a volume of 3684 shares trading hands. The stock had previously closed at C$70.70.

Analyst Ratings Changes

RUS has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price objective on shares of Russel Metals from C$63.00 to C$68.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Raymond James Financial increased their target price on shares of Russel Metals from C$65.00 to C$70.00 in a report on Friday, June 5th. Stifel Nicolaus lifted their price target on shares of Russel Metals from C$49.00 to C$58.50 and gave the stock a “hold” rating in a research report on Thursday, May 7th. TD lifted their price target on shares of Russel Metals from C$63.00 to C$68.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, BMO Capital Markets boosted their price target on shares of Russel Metals from C$51.00 to C$56.00 in a report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$61.17.

Russel Metals Price Performance

The company has a current ratio of 2.86, a quick ratio of 1.44 and a debt-to-equity ratio of 29.50. The company has a fifty day moving average price of C$63.33 and a two-hundred day moving average price of C$54.38. The firm has a market cap of C$3.77 billion, a P/E ratio of 19.29, a PEG ratio of 0.59 and a beta of 1.21.

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

Russel Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.76 annualized dividend and a dividend yield of 2.6%. Russel Metals’s dividend payout ratio is currently 48.31%.

Insider Activity at Russel Metals

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