Russel Metals (TSE:RUS) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Russel Metals Inc. (TSE:RUS) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$39.68 and traded as high as C$42.83. Russel Metals shares last traded at C$42.59, with a volume of 130,469 shares changing hands.

Wall Street Analysts Forecast Growth

RUS has been the topic of a number of recent analyst reports. Raymond James increased their price target on shares of Russel Metals from C$50.00 to C$56.00 in a report on Wednesday, November 13th. Royal Bank of Canada raised shares of Russel Metals from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$45.00 to C$51.00 in a report on Tuesday, November 26th. TD Securities upped their price target on shares of Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus lifted their price objective on Russel Metals from C$54.50 to C$57.00 in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$50.50.

Russel Metals Stock Down 0.2 %

The stock has a market capitalization of C$2.49 billion, a P/E ratio of 12.39, a PEG ratio of 0.59 and a beta of 1.52. The stock has a 50 day moving average price of C$42.58 and a 200-day moving average price of C$39.72. The company has a debt-to-equity ratio of 16.88, a current ratio of 3.85 and a quick ratio of 1.44.

Russel Metals (TSE:RUS) last announced its quarterly earnings data on Wednesday, November 6th. The company reported C$0.59 earnings per share for the quarter, missing the consensus estimate of C$0.61 by C($0.02). Russel Metals had a net margin of 4.87% and a return on equity of 12.67%. The company had revenue of C$1.09 billion during the quarter, compared to the consensus estimate of C$1.06 billion.

Russel Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.68 annualized dividend and a dividend yield of 3.95%. Russel Metals’s dividend payout ratio is presently 48.98%.

Russel Metals Company Profile

Russel Metals Inc operates as a metal distribution and processing company in Canada and the United States. It operates in three segments: Metals Service Centers, Energy Field Stores, and Steel Distribution. The Metal Service Centers segment operates a network of metals service centers, which provide metal products in range of sizes, shapes, and specifications, including carbon hot rolled and cold finished steel, pipe and tubular, stainless steel, aluminum, and other non-ferrous specialty metal products.