Russel Metals (TSE:RUS) Announces Quarterly Earnings Results

Russel Metals (TSE:RUS) posted its quarterly earnings results on Thursday. The company reported C$1.63 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$1.66 billion for the quarter. Russel Metals had a return on equity of 12.22% and a net margin of 4.04%.

Russel Metals Stock Down 0.7%

RUS traded down C$0.52 during trading on Thursday, reaching C$70.25. 107,832 shares of the stock traded hands, compared to its average volume of 229,770. The stock’s 50-day simple moving average is C$64.37 and its two-hundred day simple moving average is C$55.29. The company has a debt-to-equity ratio of 29.50, a current ratio of 2.86 and a quick ratio of 1.44. Russel Metals has a fifty-two week low of C$39.09 and a fifty-two week high of C$70.97. The stock has a market cap of C$3.86 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 0.59 and a beta of 1.21.

Russel Metals Announces Dividend

The company 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 of this dividend 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 Transactions at Russel Metals

In other news, insider John Gregory Reid sold 28,935 shares of Russel Metals stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of C$58.62, for a total transaction of C$1,696,169.70. Following the completion of the sale, the insider directly owned 306,147 shares in the company, valued at C$17,946,337.14. The trade was a 8.64% decrease in their position. Also, Director Brian Robie Hedges sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of C$63.25, for a total value of C$632,500.00. In the last quarter, insiders sold 73,935 shares of company stock valued at $4,430,667. 0.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RUS has been the topic of several research analyst reports. BMO Capital Markets lifted their target price on Russel Metals from C$51.00 to C$56.00 in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their target price on Russel Metals from C$63.00 to C$68.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Scotia increased their price target on shares of Russel Metals from C$54.00 to C$62.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 7th. National Bank Financial raised their price target on shares of Russel Metals from C$52.00 to C$57.00 and gave the stock a “sector perform” rating in a report on Monday, July 13th. Finally, TD boosted their price objective on shares of Russel Metals from C$63.00 to C$68.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$61.17.

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.