Russel Metals (TSE:RUS) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Russel Metals Inc. (TSE:RUS)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$53.68 and traded as high as C$69.84. Russel Metals shares last traded at C$69.60, with a volume of 181,837 shares.

Wall Street Analysts Forecast Growth

RUS has been the subject of a number of research reports. Scotia increased their price target on 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. Stifel Nicolaus boosted their price objective on Russel Metals from C$49.00 to C$58.50 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Raymond James Financial upped their target price on Russel Metals from C$65.00 to C$70.00 in a report on Friday, June 5th. National Bank Financial increased their target price on Russel Metals from C$52.00 to C$57.00 and gave the company a “sector perform” rating in a research report on Monday, July 13th. Finally, Royal Bank Of Canada lifted their price target on Russel Metals from C$63.00 to C$68.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Russel Metals has an average rating of “Moderate Buy” and a consensus target price of C$61.17.

Russel Metals Price Performance

The stock has a market cap of C$3.82 billion, a P/E ratio of 19.55, a P/E/G ratio of 0.59 and a beta of 1.21. The company’s 50 day moving average price is C$62.47 and its 200-day moving average price is C$53.68. The company has a quick ratio of 1.44, a current ratio of 2.86 and a debt-to-equity ratio of 29.50.

Russel Metals (TSE:RUS) last issued its quarterly earnings data 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 was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, May 28th. Russel Metals’s payout ratio is 48.31%.

Insider Buying and Selling

In related news, Director James Francis Dinning sold 2,500 shares of Russel Metals 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 value of C$155,250.00. Following the transaction, the director directly owned 19,250 shares of the company’s stock, valued at C$1,195,425. The trade was a 11.49% decrease in their ownership of the stock. Also, insider John Gregory Reid sold 28,935 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of C$58.62, for a total value of C$1,696,169.70. Following the completion of the sale, the insider owned 306,147 shares in the company, valued at C$17,946,337.14. The trade was a 8.64% decrease in their ownership of the stock. In the last ninety days, insiders sold 73,935 shares of company stock worth $4,430,667. 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.