Insider Selling: Russel Metals (TSE:RUS) Insider Sells C$1,696,169.70 in Stock

Russel Metals Inc. (TSE:RUS) insider John Gregory Reid sold 28,935 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of C$58.62, for a total value of C$1,696,169.70. Following the completion of the transaction, the insider owned 306,147 shares of the company’s stock, valued at C$17,946,337.14. The trade was a 8.64% decrease in their ownership of the stock.

Russel Metals Stock Performance

Shares of TSE RUS opened at C$59.60 on Friday. The business has a fifty day simple moving average of C$51.41 and a 200 day simple moving average of C$47.17. The company has a current ratio of 2.86, a quick ratio of 1.44 and a debt-to-equity ratio of 29.50. The firm has a market capitalization of C$3.27 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.59 and a beta of 0.95. Russel Metals Inc. has a one year low of C$39.09 and a one year high of C$59.61.

Russel Metals (TSE:RUS) last issued its earnings results on Tuesday, May 5th. The company reported C$1.30 EPS for the quarter. Russel Metals had a return on equity of 12.22% and a net margin of 4.04%.The business had revenue of C$1.42 billion during the quarter.

Russel Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.0%. The ex-dividend date is Thursday, May 28th. Russel Metals’s dividend payout ratio is currently 48.31%.

Analyst Ratings Changes

Several research firms have issued reports on RUS. TD Securities increased their price objective on Russel Metals from C$50.00 to C$57.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. National Bank Financial increased their price objective on Russel Metals from C$51.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Scotiabank increased their price objective on Russel Metals from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Stifel Nicolaus increased their price objective on Russel Metals from C$49.00 to C$58.50 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Finally, TD increased their price objective on Russel Metals from C$63.00 to C$68.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$59.50.

About Russel Metals

Russel Metals is one of the largest metals distribution companies in North America with a growing focus on value-added processing. It carries on business in three segments: metals service centers, energy field stores and steel distributors. Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals.