Russel Metals (TSE:RUS) Stock Passes Above Two Hundred 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) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on Russel Metals from C$54.50 to C$49.00 and set a "buy" rating for the company in a research report on Monday, August 11th. TD Securities reduced their price target on 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, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of C$52.20.

Russel Metals Price Performance

The stock has a market capitalization of C$2.33 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 0.59 and a beta of 1.22. The company has a quick ratio of 1.44, a current ratio of 3.37 and a debt-to-equity ratio of 20.28. The business has a 50-day simple moving average of C$42.90 and a two-hundred day simple moving average of C$41.39.

Russel Metals Announces Dividend

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

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