Russel Metals (TSE:RUS) Announces Quarterly Earnings Results

Russel Metals (TSE:RUS) posted its earnings results on Wednesday. The company reported C$2.67 EPS for the quarter, FiscalAI reports. Russel Metals had a return on equity of 13.09% and a net margin of 4.04%. The firm had revenue of C$1.82 billion for the quarter.

Russel Metals Trading Down 1.0%

TSE:RUS opened at C$88.99 on Thursday. The stock’s 50 day moving average price is C$84.37 and its 200 day moving average price is C$64.13. The company has a market capitalization of C$4.89 billion, a PE ratio of 22.70, a P/E/G ratio of 0.59 and a beta of 0.74. The company has a quick ratio of 1.44, a current ratio of 2.61 and a debt-to-equity ratio of 27.88. Russel Metals has a 52-week low of C$39.09 and a 52-week high of C$95.97.

Russel Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.0%. Russel Metals’s dividend payout ratio is 44.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RUS shares. Scotiabank set a C$113.00 target price on Russel Metals and gave the stock a “sector outperform” rating in a research report on Thursday, October 15th. Stifel Nicolaus upped their price target on Russel Metals from C$64.00 to C$85.00 and gave the company a “hold” rating in a report on Monday, August 10th. National Bank Financial upped their price target on Russel Metals from C$75.00 to C$101.00 and gave the company a “sector perform” rating in a report on Thursday, October 15th. Royal Bank Of Canada increased their price target on shares of Russel Metals from C$92.00 to C$107.00 in a research note on Wednesday, September 30th. Finally, Raymond James Financial raised their price objective on shares of Russel Metals from C$82.00 to C$92.00 and gave the stock a “market perform” rating in a report on Wednesday, October 21st. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$85.22.

Insiders Place Their Bets

In other news, Director James Francis Dinning sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of C$80.00, for a total value of C$240,000.00. Following the completion of the sale, the director directly owned 16,250 shares of the company’s stock, valued at approximately C$1,300,000. This represents a 15.58% decrease in their ownership of the stock. Also, Director Brian Robie Hedges sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of C$81.54, for a total transaction of C$2,038,500.00. Insiders have sold a total of 33,682 shares of company stock valued at $2,735,333 over the last quarter. Company insiders own 0.85% of the company’s stock.

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.