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

Key Points

• Russel Metals Inc. stock crossed above its 200-day moving average, trading at C$42.01 with a total volume of 109,782 shares.
• Analyst ratings have shifted, with Raymond James lowering its price target from C$56.00 to C$54.00, while TD Securities decreased theirs from C$52.00 to C$50.00, maintaining a "buy" rating.
• The company recently announced a quarterly dividend of $0.43, representing an annualized yield of 4.1% with a payout ratio of 58.48%.

Russel Metals Inc. (TSE:RUS - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$41.52 and traded as high as C$42.06. Russel Metals shares last traded at C$42.01, with a volume of 109,782 shares trading hands.

Analysts Set New Price Targets

RUS has been the subject of several research analyst reports. Raymond James Financial dropped their price objective on Russel Metals from C$56.00 to C$54.00 and set an "outperform" rating for the company in a research note on Wednesday, October 1st. Stifel Nicolaus lowered their price target on Russel Metals from C$49.00 to C$48.00 and set a "buy" rating on the stock in a research report on Friday, September 19th. Finally, TD Securities lowered their price target on 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. Five 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 price target of C$51.60.

Russel Metals Stock Performance

The stock has a market cap of C$2.35 billion, a PE ratio of 14.54, a P/E/G ratio of 0.59 and a beta of 1.10. The company has a fifty day moving average price of C$41.49 and a 200 day moving average price of C$41.52. The company has a quick ratio of 1.44, a current ratio of 3.37 and a debt-to-equity ratio of 20.28.

Russel Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 15th were issued a $0.43 dividend. The ex-dividend date was Thursday, August 28th. This represents a $1.72 annualized dividend and a dividend yield of 4.1%. Russel Metals's payout ratio is currently 58.48%.

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.

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