Russel Metals (TSE:RUS) Reaches New 52-Week High – What’s Next?

Russel Metals Inc. (TSE:RUS)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as C$58.55 and last traded at C$58.54, with a volume of 86963 shares traded. The stock had previously closed at C$57.54.

Analysts Set New Price Targets

A number of brokerages recently commented on RUS. Scotia upped their target price on Russel Metals from C$54.00 to C$62.00 and gave the company a “sector outperform” rating in a report on Thursday, May 7th. Raymond James Financial upped their target price on Russel Metals from C$60.00 to C$65.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Scotiabank upped their target price on Russel Metals from C$52.00 to C$54.00 and gave the company an “outperform” rating in a report on Friday, February 13th. National Bank Financial upped their target price on Russel Metals from C$51.00 to C$52.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Finally, TD upped their target price on Russel Metals from C$63.00 to C$68.00 and gave the company a “buy” rating in a report on Monday. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$59.50.

Russel Metals Stock Performance

The stock has a market capitalization of C$3.20 billion, a PE ratio of 16.35, a PEG ratio of 0.59 and a beta of 0.95. The business has a 50 day moving average price of C$50.05 and a 200 day moving average price of C$46.54. The company has a debt-to-equity ratio of 29.50, a current ratio of 2.86 and a quick ratio of 1.44.

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

Russel Metals Dividend Announcement

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

Insiders Place Their Bets

In other Russel Metals news, Director Brian Robie Hedges sold 10,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of C$57.00, for a total value of C$570,000.00. Following the transaction, the director owned 30,000 shares of the company’s stock, valued at approximately C$1,710,000. This represents a 25.00% decrease in their ownership of the stock. Insiders sold a total of 15,000 shares of company stock valued at $855,022 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

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.