Russel Metals (TSE:RUS) Shares Pass Above 200 Day Moving Average - Here's Why

Shares of Russel Metals Inc. (TSE:RUS - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$41.19 and traded as high as C$42.66. Russel Metals shares last traded at C$42.58, with a volume of 157,169 shares traded.

Analysts Set New Price Targets

RUS has been the subject of several recent analyst reports. TD Securities upped their price objective on Russel Metals from C$50.00 to C$52.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Stifel Nicolaus lowered their target price on Russel Metals from C$54.00 to C$53.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, National Bankshares lowered their target price on Russel Metals from C$58.00 to C$55.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th.

Russel Metals Trading Down 0.5%

The business has a fifty day simple moving average of C$39.92 and a 200-day simple moving average of C$41.19. The company has a debt-to-equity ratio of 20.28, a quick ratio of 1.44 and a current ratio of 3.37. The firm has a market cap of C$2.44 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.59 and a beta of 1.52.

Russel Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 16th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.04%. This is an increase from Russel Metals's previous quarterly dividend of $0.42. The ex-dividend date is Thursday, May 29th. Russel Metals's dividend payout ratio (DPR) is 54.12%.

About Russel Metals

Russel Metals Inc is a Canada-based metal distribution company. The company conducts business primarily through three metals distribution segments: metals service centers; energy products; and steel distributors. The metal service centers provide processing and distribution services to a broad base of end-users.