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

Russel Metals Inc. (TSE:RUS) shares reached a new 52-week high on Thursday . The company traded as high as C$63.99 and last traded at C$63.80, with a volume of 48894 shares trading hands. The stock had previously closed at C$63.08.

Wall Street Analysts Forecast Growth

RUS has been the topic of a number of analyst reports. Scotiabank lifted their target price on Russel Metals from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. 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 research report on Thursday, May 7th. Royal Bank Of Canada lifted their price target on shares of Russel Metals from C$55.00 to C$63.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Scotia increased their price objective on shares of Russel Metals from C$54.00 to C$62.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 7th. Finally, TD Securities raised their price objective on shares of Russel Metals from C$50.00 to C$57.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Russel Metals presently has an average rating of “Moderate Buy” and a consensus target price of C$59.50.

Russel Metals Trading Up 1.7%

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 company has a market cap of C$3.52 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 0.59 and a beta of 1.16. The firm has a 50-day moving average price of C$53.75 and a 200 day moving average price of C$48.40.

Russel Metals (TSE:RUS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported C$1.30 earnings per share (EPS) for the quarter. The business 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, May 28th. Russel Metals’s payout ratio is currently 48.31%.

Insider Activity at Russel Metals

In other Russel Metals news, insider Martin Leb Juravsky sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of C$63.28, for a total value of C$316,400.00. Following the completion of the sale, the insider directly owned 12,356 shares in the company, valued at C$781,887.68. This represents a 28.81% decrease in their ownership of the stock. Also, Director Brian Robie Hedges sold 10,000 shares of the business’s stock in a transaction on 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 completion of the sale, the director directly owned 30,000 shares in the company, valued at C$1,710,000. This represents a 25.00% decrease in their position. Over the last three months, insiders have sold 63,935 shares of company stock valued at $3,798,167. Insiders own 0.85% of the company’s stock.

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.