Russel Metals (TSE:RUS) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Russel Metals Inc. (TSE:RUS) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$66.47 and traded as high as C$92.06. Russel Metals shares last traded at C$91.87, with a volume of 140,673 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on RUS shares. Royal Bank Of Canada upped their price target on shares of Russel Metals from C$92.00 to C$107.00 in a report on Wednesday, September 30th. National Bank Financial raised their price objective on shares of Russel Metals from C$75.00 to C$101.00 and gave the stock a “sector perform” rating in a research note on Thursday. TD set a C$94.00 target price on Russel Metals and gave the company a “buy” rating in a research report on Monday, September 21st. Raymond James Financial lowered Russel Metals from a “moderate buy” rating to a “hold” rating and boosted their target price for the company from C$70.00 to C$82.00 in a research report on Monday, August 10th. Finally, Stifel Nicolaus raised their price target on Russel Metals from C$64.00 to C$85.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$84.11.

Russel Metals Stock Down 0.4%

The company’s 50 day moving average is C$80.63 and its 200 day moving average is C$66.78. The company has a market cap of C$5.02 billion, a PE ratio of 23.34, a P/E/G ratio of 0.59 and a beta of 0.95. 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 (TSE:RUS) last released its quarterly earnings data on Thursday, August 6th. The company reported C$1.63 earnings per share (EPS) for the quarter. The company had revenue of C$1.66 billion during the quarter. Russel Metals had a net margin of 4.04% and a return on equity of 13.09%.

Russel Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, August 28th. Russel Metals’s payout ratio is currently 44.13%.

Insider Activity

In related news, Director James Francis Dinning sold 3,000 shares of the business’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 completion of the sale, the director owned 16,250 shares in the company, valued at approximately C$1,300,000. The trade was a 15.58% decrease in their ownership of the stock. Also, Director Brian Robie Hedges purchased 1,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of C$80.48 per share, with a total value of C$80,480.00. Following the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at C$80,480. This trade represents a ∞ increase in their position. Over the last quarter, insiders sold 33,682 shares of company stock valued at $2,735,333. Corporate insiders own 0.85% of the company’s stock.

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.