Russel Metals (TSE:RUS) Issues Earnings Results

Russel Metals (TSE:RUS) announced its quarterly earnings results on Wednesday. The company reported C$2.67 EPS for the quarter, FiscalAI reports. Russel Metals had a return on equity of 13.09% and a net margin of 4.04%. The company had revenue of C$1.82 billion for the quarter.

Russel Metals Stock Performance

RUS traded down C$0.94 during midday trading on Wednesday, reaching C$88.99. The company’s stock had a trading volume of 286,610 shares, compared to its average volume of 226,137. The stock has a market cap of C$4.89 billion, a P/E ratio of 22.70, a PEG ratio of 0.59 and a beta of 0.74. The company has a fifty day simple moving average of C$84.03 and a 200 day simple moving average of C$63.93. The company has a current ratio of 2.61, a quick ratio of 1.44 and a debt-to-equity ratio of 27.88. Russel Metals has a twelve month low of C$39.09 and a twelve month high of C$95.97.

Russel Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.76 dividend on an annualized basis and a yield of 2.0%. Russel Metals’s dividend payout ratio (DPR) is 44.13%.

Insiders Place Their Bets

In other news, insider Martin Leb Juravsky sold 5,682 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of C$80.40, for a total transaction of C$456,832.80. Following the completion of the transaction, the insider directly owned 6,674 shares in the company, valued at C$536,589.60. The trade was a 45.99% decrease in their ownership of the stock. Also, Director James Francis Dinning sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of C$80.00, for a total value of C$240,000.00. Following the transaction, the director owned 16,250 shares of the company’s stock, valued at approximately C$1,300,000. This trade represents a 15.58% decrease in their ownership of the stock. Insiders have sold a total of 33,682 shares of company stock valued at $2,735,333 in the last three months. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RUS. Raymond James Financial boosted their price objective on shares of Russel Metals from C$82.00 to C$92.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 21st. Scotiabank set a C$113.00 price objective on shares of Russel Metals and gave the stock a “sector outperform” rating in a report on Thursday, October 15th. TD set a C$94.00 target price on shares of Russel Metals and gave the company a “buy” rating in a research note on Monday, September 21st. National Bank Financial raised their target price on shares of Russel Metals from C$75.00 to C$101.00 and gave the company a “sector perform” rating in a research note on Thursday, October 15th. Finally, Royal Bank Of Canada lifted their target price on shares of Russel Metals from C$92.00 to C$107.00 in a report on Wednesday, September 30th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Russel Metals has an average rating of “Moderate Buy” and a consensus target price of C$85.22.

Russel Metals Company Profile

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.