Russel Metals (TSE:RUS) Stock Passes Above 200 Day Moving Average – Here’s Why

Russel Metals Inc. (TSE:RUS) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$39.53 and traded as high as C$45.02. Russel Metals shares last traded at C$44.35, with a volume of 209,465 shares trading hands.

Analyst Ratings Changes

RUS has been the topic of several research reports. Raymond James increased their target price on Russel Metals from C$50.00 to C$56.00 in a research note on Wednesday, November 13th. Stifel Nicolaus upped their target price on shares of Russel Metals from C$54.50 to C$57.00 in a research note on Friday, November 22nd. 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 research report on Tuesday, November 26th. Finally, TD Securities upped their price objective on Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$50.50.

Russel Metals Stock Performance

The stock’s 50-day simple moving average is C$42.28 and its 200 day simple moving average is C$39.53. The company has a market capitalization of C$2.60 billion, a PE ratio of 12.93, a P/E/G ratio of 0.59 and a beta of 1.52. The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85.

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

Russel Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.68 annualized dividend and a yield of 3.79%. Russel Metals’s dividend payout ratio is currently 48.98%.

About Russel Metals

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.