Russel Metals (TSE:RUS) Insider John Gregory Reid Sells 28,935 Shares of Stock

Russel Metals Inc. (TSE:RUS) insider John Gregory Reid sold 28,935 shares of the firm’s 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 transaction of C$1,696,169.70. Following the transaction, the insider directly owned 306,147 shares in the company, valued at approximately C$17,946,337.14. This trade represents a 8.64% decrease in their ownership of the stock.

Russel Metals Trading Down 0.6%

RUS opened at C$58.23 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.86 and a debt-to-equity ratio of 29.50. The stock’s fifty day moving average is C$51.15 and its two-hundred day moving average is C$47.08. The company has a market capitalization of C$3.20 billion, a P/E ratio of 16.36, a PEG ratio of 0.59 and a beta of 0.95. Russel Metals Inc. has a 52 week low of C$39.09 and a 52 week high of C$59.15.

Russel Metals (TSE:RUS) last released its quarterly earnings data on Tuesday, May 5th. The company reported C$1.30 earnings per share for the quarter. Russel Metals had a return on equity of 12.22% and a net margin of 4.04%.The firm had revenue of C$1.42 billion during the quarter.

Russel Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.0%. Russel Metals’s dividend payout ratio (DPR) is currently 48.31%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RUS. Stifel Nicolaus lifted their target price on Russel Metals from C$49.00 to C$58.50 and gave the company a “hold” rating in a research note on Thursday, May 7th. BMO Capital Markets boosted their price objective on shares of Russel Metals from C$51.00 to C$56.00 in a research note on Wednesday, May 6th. Scotiabank increased their target price on shares of Russel Metals from C$52.00 to C$54.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Royal Bank Of Canada raised their target price on shares of Russel Metals from C$55.00 to C$63.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, National Bank Financial lifted their price target 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. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Russel Metals currently has a consensus rating of “Moderate Buy” and an average price target of C$59.50.

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.