Russel Metals (TSE:RUS) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Russel Metals Inc. (TSE:RUS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$41.39 and traded as high as C$41.61. Russel Metals shares last traded at C$41.55, with a volume of 92,092 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on RUS shares. TD Securities reduced their price objective on shares of Russel Metals from C$52.00 to C$50.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Stifel Nicolaus dropped their target price on shares of Russel Metals from C$54.50 to C$49.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$52.20.

Russel Metals Stock Up 0.1%

The company's 50 day simple moving average is C$43.04 and its 200-day simple moving average is C$41.39. The company has a current ratio of 3.37, a quick ratio of 1.44 and a debt-to-equity ratio of 20.28. The firm has a market cap of C$2.36 billion, a P/E ratio of 14.58, a PEG ratio of 0.59 and a beta of 1.22.

Russel Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, August 28th. Russel Metals's payout ratio is presently 58.48%.

Russel Metals Company Profile

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.