Russel Metals (TSE:RUS) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Russel Metals Inc. (TSE:RUS) stock recently surpassed its 200-day moving average, reaching a high of C$41.65 during trading.
• Multiple research firms have downgraded their price targets for the company, with Stifel Nicolaus adjusting it from C$54.50 to C$49.00, though the average rating remains a "Buy".
• The company declared a quarterly dividend of $0.43 per share, representing a 4.2% yield based on an annualized dividend of $1.72.

Russel Metals Inc. (TSE:RUS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$41.38 and traded as high as C$41.65. Russel Metals shares last traded at C$40.90, with a volume of 178,322 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RUS shares. TD Securities reduced their target price 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. Stifel Nicolaus reduced their target price on shares of 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. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of C$52.20.

Russel Metals Stock Performance

The company's fifty day moving average is C$43.15 and its 200 day moving average is C$41.40. The company has a market capitalization of C$2.38 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.59 and a beta of 1.52. The company has a current ratio of 3.37, a quick ratio of 1.44 and a debt-to-equity ratio of 20.28.

Russel Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 15th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $1.72 annualized dividend and a yield of 4.1%. Russel Metals's dividend payout ratio (DPR) 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.