John Gregory Reid Sells 28,935 Shares of Russel Metals (TSE:RUS) Stock

Russel Metals Inc. (TSE:RUS) insider John Gregory Reid sold 28,935 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of C$58.62, for a total transaction of C$1,696,169.70. Following the transaction, the insider directly owned 306,147 shares in the company, valued at approximately C$17,946,337.14. This represents a 8.64% decrease in their position.

Russel Metals Stock Performance

TSE:RUS opened at C$59.60 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.86 and a debt-to-equity ratio of 29.50. The company has a market cap of C$3.27 billion, a P/E ratio of 16.74, a P/E/G ratio of 0.59 and a beta of 0.95. Russel Metals Inc. has a fifty-two week low of C$39.09 and a fifty-two week high of C$59.61. The firm’s 50 day moving average is C$51.41 and its two-hundred day moving average is C$47.17.

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

Russel Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.44 per share. 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 (DPR) is currently 48.31%.

Analyst Ratings Changes

A number of equities analysts have weighed in on RUS shares. National Bank Financial increased their price target on shares of Russel Metals from C$51.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Royal Bank Of Canada raised their target price on shares of Russel Metals from C$55.00 to C$63.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Scotia raised their target price 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. TD raised their target price on shares of Russel Metals from C$63.00 to C$68.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Raymond James Financial raised their target price on shares of Russel Metals from C$60.00 to C$65.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Russel Metals presently has an average rating of “Moderate Buy” and a consensus target price of C$59.50.

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.