Russel Metals (TSE:RUS) Hits New 1-Year High – Here’s Why

Russel Metals Inc. (TSE:RUS) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$45.70 and last traded at C$45.69, with a volume of 5776 shares traded. The stock had previously closed at C$45.20.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Scotiabank upgraded shares of Russel Metals to a “strong-buy” rating in a research note on Friday, October 10th. National Bankshares lifted their price target on Russel Metals from C$55.00 to C$56.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Stifel Nicolaus lowered their price target on Russel Metals from C$49.00 to C$48.00 and set a “buy” rating on the stock in a research report on Friday, September 19th. Finally, Raymond James Financial dropped their price objective on Russel Metals from C$56.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat.com, Russel Metals has an average rating of “Buy” and a consensus price target of C$52.00.

Russel Metals Stock Up 0.7%

The firm has a 50-day simple moving average of C$42.05 and a two-hundred day simple moving average of C$42.23. The stock has a market cap of C$2.53 billion, a P/E ratio of 15.59, a PEG ratio of 0.59 and a beta of 1.10. 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 (TSE:RUS) last released its quarterly earnings results on Wednesday, November 5th. The company reported C$0.63 EPS for the quarter. The business had revenue of C$1.17 billion for the quarter. Russel Metals had a net margin of 4.27% and a return on equity of 11.03%.

Russel Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Thursday, November 27th. Russel Metals’s payout ratio is presently 58.22%.

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.