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

Key Points

• Russel Metals Inc. (TSE:RUS) stock price has crossed above its 200-day moving average of C$41.43, currently trading at C$43.73 with a volume of 103,111 shares.
• Analysts have revised their target prices for Russel Metals, with Stifel Nicolaus adjusting it from C$54.00 to C$53.00 while maintaining a "buy" rating.
• The company recently increased its quarterly dividend to $0.43, representing an annualized yield of 3.9% and signaling confidence in its financial stability.

Shares of Russel Metals Inc. (TSE:RUS - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$41.43 and traded as high as C$44.12. Russel Metals shares last traded at C$43.73, with a volume of 103,111 shares changing hands.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus dropped their price target on Russel Metals from C$54.00 to C$53.00 and set a "buy" rating for the company in a research report on Thursday, May 8th.

Russel Metals Stock Down 6.4%

The company has a debt-to-equity ratio of 20.28, a current ratio of 3.37 and a quick ratio of 1.44. The business has a fifty day moving average of C$43.63 and a 200 day moving average of C$41.46. The stock has a market capitalization of C$2.29 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 0.59 and a beta of 1.52.

Russel Metals Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Thursday, August 28th. Russel Metals's dividend payout ratio is 54.12%.

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.