Russel Metals (RUS) Given a C$31.00 Price Target at Raymond James

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Raymond James set a C$31.00 target price on Russel Metals (TSE:RUS) in a research note issued to investors on Friday morning. The brokerage currently has a strong-buy rating on the stock.

Other equities analysts have also issued reports about the stock. TD Securities decreased their target price on shares of Russel Metals from C$39.00 to C$34.00 and set a buy rating on the stock in a report on Friday, November 9th. Royal Bank of Canada decreased their target price on shares of Russel Metals from C$32.00 to C$28.00 in a report on Monday, February 4th.

RUS stock traded down C$0.09 during mid-day trading on Friday, hitting C$23.47. The stock had a trading volume of 525,200 shares, compared to its average volume of 216,476. The company has a quick ratio of 1.04, a current ratio of 2.51 and a debt-to-equity ratio of 63.69. Russel Metals has a 52 week low of C$19.72 and a 52 week high of C$32.65. The firm has a market cap of $1.46 billion and a P/E ratio of 7.26.

Russel Metals (TSE:RUS) last released its earnings results on Wednesday, November 7th. The company reported C$1.10 EPS for the quarter. The firm had revenue of C$1.14 billion during the quarter. Equities analysts predict that Russel Metals will post 2.60000002215594 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 6.48%. The ex-dividend date of this dividend is Tuesday, February 26th. Russel Metals’s dividend payout ratio is currently 47.02%.

In related news, Director Annie Thabet purchased 3,750 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The shares were bought at an average cost of C$26.00 per share, with a total value of C$97,500.00. Also, insider William Michael O’reilly purchased 1,400 shares of the firm’s stock in a transaction that occurred on Monday, December 10th. The shares were bought at an average cost of C$21.20 per share, for a total transaction of C$29,680.00. Over the last three months, insiders acquired 10,656 shares of company stock worth $245,237.

About Russel Metals

Russel Metals Inc processes and distributes steel and other metal products in North America. The company operates in three segments: Metals Service Centers, Energy Products, and Steel Distributors. The Metals Service Centers segment purchases metal products from steel producers; and packages, processes, and sells carbon hot rolled and cold finished steel, pipe and tubular, and stainless steel and aluminum products, as well as other non-ferrous specialty metals in a range of sizes, shapes, and specifications.

Further Reading: What is the Ex-Dividend Date in Investing?

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