Russel Metals Inc. (TSE:RUS) Raises Dividend to $0.42 Per Share

Russel Metals Inc. (TSE:RUS - Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Wednesday, May 29th will be given a dividend of 0.42 per share on Friday, June 14th. This represents a $1.68 annualized dividend and a yield of 4.36%. The ex-dividend date is Wednesday, May 29th. This is a boost from Russel Metals's previous quarterly dividend of $0.40.

Russel Metals Price Performance

Shares of Russel Metals stock traded down C$1.22 on Friday, hitting C$38.52. 173,885 shares of the company traded hands, compared to its average volume of 177,067. The company has a current ratio of 4.14, a quick ratio of 1.44 and a debt-to-equity ratio of 25.76. The firm's 50-day simple moving average is C$42.63 and its 200 day simple moving average is C$41.85. Russel Metals has a 12-month low of C$33.38 and a 12-month high of C$47.39. The company has a market cap of C$2.31 billion, a P/E ratio of 8.90, a P/E/G ratio of 0.59 and a beta of 1.54.

Russel Metals (TSE:RUS - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported C$0.78 earnings per share for the quarter, beating analysts' consensus estimates of C$0.72 by C$0.06. The company had revenue of C$1.02 billion for the quarter, compared to analysts' expectations of C$1.06 billion. Russel Metals had a return on equity of 16.67% and a net margin of 5.92%. Analysts expect that Russel Metals will post 3.5926623 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on RUS. Scotiabank reduced their target price on shares of Russel Metals from C$50.00 to C$48.50 and set a "sector perform" rating on the stock in a report on Wednesday, April 17th. Stifel Nicolaus decreased their price objective on Russel Metals from C$55.50 to C$54.00 and set a "buy" rating on the stock in a report on Friday, April 19th. BMO Capital Markets boosted their target price on Russel Metals from C$44.00 to C$46.00 and gave the company an "outperform" rating in a research note on Friday, February 9th. Raymond James reduced their price target on Russel Metals from C$52.00 to C$48.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 17th. Finally, TD Securities lowered their price objective on Russel Metals from C$48.00 to C$45.00 and set a "hold" rating for the company in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$47.64.

Russel Metals Company Profile

Russel Metals Inc operates as a metal distribution and processing company in Canada and the United States. It operates in three segments: Metals Service Centers, Energy Field Stores, and Steel Distribution. The Metal Service Centers segment operates a network of metals service centers, which provide metal products in range of sizes, shapes, and specifications, including carbon hot rolled and cold finished steel, pipe and tubular, stainless steel, aluminum, and other non-ferrous specialty metal products.