Russel Metals (TSE:RUS) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Russel Metals Inc. (TSE:RUS)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$50.87 and traded as high as C$61.15. Russel Metals shares last traded at C$60.24, with a volume of 402,422 shares.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RUS. BMO Capital Markets raised their price objective on Russel Metals from C$51.00 to C$56.00 in a report on Wednesday, May 6th. Raymond James Financial upped their target price on Russel Metals from C$65.00 to C$70.00 in a research note on Friday, June 5th. TD raised their price target on Russel Metals from C$63.00 to C$68.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Stifel Nicolaus raised their price target on Russel Metals from C$49.00 to C$58.50 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Finally, National Bank Financial lifted their price target on Russel Metals from C$51.00 to C$52.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$60.06.

Russel Metals Price Performance

The company’s 50 day moving average price is C$58.15 and its 200-day moving average price is C$50.87. The company has a market capitalization of C$3.31 billion, a PE ratio of 16.92, a PEG ratio of 0.59 and a beta of 1.16. The company has a current ratio of 2.86, a quick ratio of 1.44 and a debt-to-equity ratio of 29.50.

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

Russel Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, May 28th. This represents a $1.76 annualized dividend and a yield of 2.9%. Russel Metals’s dividend payout ratio is currently 48.31%.

Insider Transactions at Russel Metals

In other news, insider Martin Leb Juravsky sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of C$63.28, for a total transaction of C$316,400.00. Following the completion of the sale, the insider owned 12,356 shares in the company, valued at approximately C$781,887.68. The trade was a 28.81% decrease in their position. Also, Director James Francis Dinning sold 2,500 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of C$62.10, for a total transaction of C$155,250.00. Following the sale, the director directly owned 19,250 shares of the company’s stock, valued at approximately C$1,195,425. This trade represents a 11.49% decrease in their position. In the last 90 days, insiders have sold 73,935 shares of company stock valued at $4,430,667. 0.85% of the stock is owned by company insiders.

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.