Brokerages Set Russel Metals Inc. (TSE:RUS) Price Target at C$59.50

Russel Metals Inc. (TSE:RUS) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$59.50.

Several analysts have commented on RUS shares. Royal Bank Of Canada raised their price objective on Russel Metals from C$55.00 to C$63.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Stifel Nicolaus raised their price objective on Russel Metals from C$49.00 to C$58.50 and gave the company a “hold” rating in a report on Thursday, May 7th. Scotia lifted their price target on Russel Metals from C$54.00 to C$62.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 7th. Raymond James Financial lifted their price target on Russel Metals from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Finally, TD lifted 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.

Insider Transactions at Russel Metals

In other news, Director Brian Robie Hedges sold 5,000 shares of Russel Metals stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of C$62.10, for a total value of C$310,500.00. Following the sale, the director directly owned 25,000 shares of the company’s stock, valued at C$1,552,500. The trade was a 16.67% decrease in their ownership of the stock. Also, insider John Gregory Reid sold 28,935 shares of Russel Metals 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 value of C$1,696,169.70. Following the completion of the sale, the insider directly owned 306,147 shares in the company, valued at C$17,946,337.14. This represents a 8.64% decrease in their ownership of the stock. Insiders have sold 53,935 shares of company stock valued at $3,167,417 over the last ninety days. Insiders own 0.85% of the company’s stock.

Russel Metals Stock Up 1.3%

Russel Metals stock opened at C$62.44 on Friday. The firm has a market cap of C$3.43 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 0.59 and a beta of 0.95. Russel Metals has a 52 week low of C$39.09 and a 52 week high of C$62.56. The business’s 50-day moving average price is C$52.82 and its 200 day moving average price is C$47.86. 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 EPS for the quarter. Russel Metals had a return on equity of 12.22% and a net margin of 4.04%.The company had revenue of C$1.42 billion for the quarter.

Russel Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 15th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.8%. Russel Metals’s payout ratio is currently 48.31%.

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.