Russel Metals (TSE:RUS) Price Target Raised to C$70.00 at Raymond James Financial

Russel Metals (TSE:RUS) had its price objective boosted by Raymond James Financial from C$65.00 to C$70.00 in a research note released on Friday morning,BayStreet.CA reports.

Several other research firms have also issued reports on RUS. TD upped their price target on shares of Russel Metals from C$63.00 to C$68.00 and gave the company a “buy” rating in a research report on Monday, May 11th. National Bank Financial increased their target price on shares of Russel Metals from C$51.00 to C$52.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. TD Securities increased their target price 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. Scotiabank increased their target price on shares of Russel Metals from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, BMO Capital Markets increased their target price on shares of Russel Metals from C$51.00 to C$56.00 in a report on Wednesday, May 6th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Russel Metals has a consensus rating of “Moderate Buy” and a consensus target price of C$60.06.

Russel Metals Stock Performance

TSE RUS opened at C$62.07 on Friday. The company has a 50-day simple moving average of C$54.35 and a two-hundred day simple moving average of C$48.66. 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 has a 12-month low of C$39.09 and a 12-month high of C$64.26. The firm has a market cap of C$3.41 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 0.59 and a beta of 1.16.

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. Russel Metals had a net margin of 4.04% and a return on equity of 12.22%. The business had revenue of C$1.42 billion during the quarter.

Russel Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 15th will be issued a $0.44 dividend. The ex-dividend date is Thursday, May 28th. This represents a $1.76 annualized dividend and a yield of 2.8%. Russel Metals’s dividend payout ratio (DPR) is 48.31%.

Insider Activity at Russel Metals

In other Russel Metals news, Director James Francis Dinning sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of C$62.10, for a total value of C$155,250.00. Following the completion of the sale, the director directly owned 19,250 shares in the company, valued at C$1,195,425. This trade represents a 11.49% decrease in their ownership of the stock. Also, insider John Gregory Reid sold 28,935 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider owned 306,147 shares of the company’s stock, valued at C$17,946,337.14. This trade represents a 8.64% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 63,935 shares of company stock valued at $3,798,167. 0.85% of the stock is currently owned by corporate 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.