Russel Metals (RUS) Reaches New 12-Month High at $30.02

Shares of Russel Metals Inc (TSE:RUS) hit a new 52-week high during trading on Tuesday . The company traded as high as C$30.02 and last traded at C$29.77, with a volume of 99559 shares changing hands. The stock had previously closed at C$29.87.

RUS has been the topic of a number of research analyst reports. Scotiabank reaffirmed an “outperform” rating and set a C$32.00 price target on shares of Russel Metals in a research report on Thursday, November 9th. Raymond James Financial upped their price target on shares of Russel Metals from C$31.00 to C$32.00 and gave the company an “outperform” rating in a research report on Wednesday, November 22nd. Finally, TD Securities upped their price target on shares of Russel Metals from C$32.00 to C$34.00 and gave the company a “buy” rating in a research report on Friday, November 10th.

The stock has a market capitalization of $1,850.00, a PE ratio of 15.55 and a beta of 0.67.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Monday, November 27th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, November 24th. This represents a $1.52 annualized dividend and a dividend yield of 5.12%. Russel Metals’s dividend payout ratio is currently 79.58%.

In other news, insider Brian Robie Hedges sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of C$29.45, for a total transaction of C$58,900.00. Also, insider Marion Eleanor Britton sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of C$28.70, for a total transaction of C$143,500.00. Insiders have sold 12,400 shares of company stock worth $361,280 in the last quarter.

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About Russel Metals

Russel Metals Inc is a metals distribution and processing company. The Company primarily distributes steel products. The Company operates through three segments: metals service centers, energy products and steel distributors. The Company provides processing and distribution services to a base of approximately 43,000 end users through a network of 50 locations in Canada and 14 locations in the United States.

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