Russel Metals (TSE:RUS) Reaches New 52-Week High – Still a Buy?
by Michael Walen · The Markets DailyRussel Metals Inc. (TSE:RUS – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$64.31 and last traded at C$64.17, with a volume of 19890 shares. The stock had previously closed at C$63.40.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on RUS. TD upped their target price on 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. National Bank Financial lifted their target price on Russel Metals from C$51.00 to C$52.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. BMO Capital Markets upped their price target on Russel Metals from C$51.00 to C$56.00 in a research note on Wednesday, May 6th. Royal Bank Of Canada increased their price target on shares of Russel Metals from C$63.00 to C$68.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Finally, Raymond James Financial raised their target price on Russel Metals from C$65.00 to C$70.00 in a report on Friday, June 5th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$60.61.
Get Our Latest Analysis on RUS
Russel Metals Stock Up 1.2%
The firm has a 50-day moving average of C$60.05 and a two-hundred day moving average of C$52.03. 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 firm has a market capitalization of C$3.52 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 0.59 and a beta of 1.21.
Russel Metals (TSE:RUS – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$1.30 earnings per share (EPS) for the quarter. The firm 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. Shareholders of record on Monday, June 15th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, May 28th. Russel Metals’s dividend payout ratio is 48.31%.
Insider Activity at Russel Metals
In related news, Director James Francis Dinning sold 2,500 shares of the business’s 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 completion of the sale, the director directly owned 19,250 shares of the company’s stock, valued at C$1,195,425. The trade was a 11.49% decrease in their ownership of the stock. Also, insider Martin Leb Juravsky sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 12,356 shares in the company, valued at approximately C$781,887.68. This represents a 28.81% decrease in their ownership of the stock. In the last 90 days, insiders have sold 73,935 shares of company stock worth $4,430,667. Company insiders own 0.85% of the company’s stock.
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.