Russel Metals (TSE:RUS) Reaches New 52-Week High - What's Next?

Key Points

• Russel Metals shares hit a new 52-week high, trading as high as C$64.31 and last changing hands near C$64.17, up about 1.2% on the day.
• Analysts have turned increasingly bullish, with several firms raising price targets; the stock now carries a Moderate Buy consensus and an average target of C$60.61.
• The company recently posted C$1.30 EPS on C$1.42 billion in quarterly revenue and also paid a quarterly dividend of C$0.44 per share, yielding about 2.7% annually.

Russel Metals Inc. (TSE:RUS - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company 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.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Russel Metals from C$49.00 to C$58.50 and gave the company a "hold" rating in a report on Thursday, May 7th. Raymond James Financial lifted their target price on shares of Russel Metals from C$65.00 to C$70.00 in a report on Friday, June 5th. TD raised their price objective on Russel Metals from C$63.00 to C$68.00 and gave the company a "buy" rating in a report on Monday, May 11th. BMO Capital Markets upped their target price on Russel Metals from C$51.00 to C$56.00 in a research note on Wednesday, May 6th. Finally, Scotia boosted 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 report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Russel Metals has a consensus rating of "Moderate Buy" and a consensus price target of C$60.61.

Russel Metals Stock Up 1.2%

The company has a quick ratio of 1.44, a current ratio of 2.86 and a debt-to-equity ratio of 29.50. The business has a 50-day moving average price of C$60.05 and a 200-day moving average price of C$52.03. 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 released its quarterly earnings data 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 net margin of 4.04% and a return on equity of 12.22%.

Russel Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, May 28th. Russel Metals's dividend payout ratio is currently 48.31%.

Insider Buying and Selling at Russel Metals

In other news, Director James Francis Dinning sold 2,500 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of C$62.10, for a total transaction of C$155,250.00. Following the sale, the director owned 19,250 shares of the company's stock, valued at approximately C$1,195,425. This represents a 11.49% decrease in their ownership of the stock. Also, Director Brian Robie Hedges sold 10,000 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of C$63.25, for a total value of C$632,500.00. Insiders sold 73,935 shares of company stock valued at $4,430,667 in the last 90 days. Corporate 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.

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