Russel Metals (TSE:RUS) Stock Gets Price Target Reduction from Scotiabank

Russel Metals (TSE:RUS) had its price target trimmed by Scotiabank from C$113.00 to C$109.00 in a research note published on Monday,BayStreet reports. The firm currently has a sector outperform rating on the stock.

A number of other equities research analysts also recently commented on the company. Raymond James Financial raised their target price on Russel Metals from C$82.00 to C$92.00 and gave the company a “market perform” rating in a report on Wednesday, October 21st. TD set a C$94.00 price target on shares of Russel Metals and gave the stock a “buy” rating in a research note on Monday, September 21st. Stifel Nicolaus raised their price objective on shares of Russel Metals from C$64.00 to C$85.00 and gave the company a “hold” rating in a research note on Monday, August 10th. National Bank Financial raised their price objective on shares of Russel Metals from C$75.00 to C$101.00 and gave the company a “sector perform” rating in a research note on Thursday, October 15th. Finally, Royal Bank Of Canada boosted their price objective on shares of Russel Metals from C$92.00 to C$107.00 in a report on Wednesday, September 30th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$84.78.

Russel Metals Stock Up 5.2%

RUS stock opened at C$79.69 on Monday. The stock has a market capitalization of C$4.38 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 0.59 and a beta of 0.74. Russel Metals has a one year low of C$39.09 and a one year high of C$95.97. The company has a fifty day moving average of C$84.79 and a 200-day moving average of C$64.86. The company has a debt-to-equity ratio of 25.75, a quick ratio of 1.44 and a current ratio of 2.75.

Russel Metals (TSE:RUS) last announced its quarterly earnings data on Wednesday, November 4th. The company reported C$2.67 EPS for the quarter. The firm had revenue of C$1.82 billion during the quarter. Russel Metals had a net margin of 5.12% and a return on equity of 18.02%.

Russel Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.76 annualized dividend and a yield of 2.2%. Russel Metals’s payout ratio is currently 31.18%.

Insider Transactions at Russel Metals

In other Russel Metals news, insider Martin Leb Juravsky sold 5,682 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of C$80.40, for a total transaction of C$456,832.80. Following the sale, the insider directly owned 6,674 shares in the company, valued at approximately C$536,589.60. The trade was a 45.99% decrease in their ownership of the stock. 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.