Russel Metals (TSE:RUS) Share Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Russel Metals Inc. stock has surpassed its 200-day moving average, trading at C$41.68, with a volume of 196,770 shares.
• Equities analysts have adjusted their price targets for Russel Metals, with recent reductions from C$54.50 to C$49.00 by Stifel Nicolaus and from C$52.00 to C$50.00 by TD Securities, both maintaining a "buy" rating.
• The company announced a quarterly dividend of $0.43 per share, equating to an annual yield of 4.1%, with the ex-dividend date set for August 28th.

Russel Metals Inc. (TSE:RUS - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$41.39 and traded as high as C$41.86. Russel Metals shares last traded at C$41.68, with a volume of 196,770 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RUS. 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. TD Securities lowered their price objective on shares of Russel Metals from C$52.00 to C$50.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of C$52.20.

Russel Metals Stock Performance

The stock's 50-day moving average price is C$42.66 and its 200 day moving average price is C$41.39. The firm has a market cap of C$2.31 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 0.59 and a beta of 1.22. The company has a debt-to-equity ratio of 20.28, a current ratio of 3.37 and a quick ratio of 1.44.

Russel Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 15th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Thursday, August 28th. Russel Metals's dividend 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.