Stifel Nicolaus Cuts Russel Metals (TSE:RUS) Price Target to C$49.00

Key Points

• Stifel Nicolaus has lowered its target price for Russel Metals (TSE:RUS) from C$54.50 to C$49.00, while maintaining a "buy" rating on the stock.
• Shares of Russel Metals are currently down 0.6%, trading at C$39.75, with a 52-week range between C$34.62 and C$46.87.
• The company has a market capitalization of C$2.28 billion and is involved in multiple metals distribution segments, emphasizing its broad service to end-users.

Russel Metals (TSE:RUS - Free Report) had its price objective decreased by Stifel Nicolaus from C$54.50 to C$49.00 in a research note released on Monday morning,BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

Russel Metals Price Performance

TSE:RUS traded down C$0.15 during trading hours on Monday, hitting C$40.62. The company's stock had a trading volume of 139,219 shares, compared to its average volume of 158,389. The company has a market capitalization of C$2.33 billion, a PE ratio of 13.09, a PEG ratio of 0.59 and a beta of 1.52. Russel Metals has a 52-week low of C$34.62 and a 52-week high of C$46.87. The business's 50-day moving average is C$43.41 and its two-hundred day moving average is C$41.39. The company has a debt-to-equity ratio of 20.28, a quick ratio of 1.44 and a current ratio of 3.37.

Russel Metals Announces Dividend

The business 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 dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.2%. The ex-dividend date is Thursday, August 28th. Russel Metals's dividend payout ratio is presently 54.12%.

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.