Russel Metals (TSE:RUS) Reaches New 52-Week High Following Analyst Upgrade

Russel Metals Inc. (TSE:RUS)’s share price hit a new 52-week high on Tuesday after BMO Capital Markets raised their price target on the stock from C$51.00 to C$56.00. The company traded as high as C$53.74 and last traded at C$53.04, with a volume of 231532 shares changing hands. The stock had previously closed at C$52.83.

Several other research firms have also recently commented on RUS. Scotiabank lifted their target price on Russel Metals from C$52.00 to C$54.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Royal Bank Of Canada lifted their price objective on Russel Metals from C$51.00 to C$55.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. National Bank Financial reduced their target price on shares of Russel Metals from C$56.00 to C$51.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 8th. Stifel Nicolaus lifted their price target on shares of Russel Metals from C$49.00 to C$50.50 and gave the stock a “hold” rating in a research report on Friday, February 13th. Finally, TD increased their price objective on shares of Russel Metals from C$57.00 to C$63.00 and gave the company a “buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$55.06.

Russel Metals Stock Performance

The company has a quick ratio of 1.44, a current ratio of 3.06 and a debt-to-equity ratio of 30.44. The stock has a market cap of C$3.13 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 0.59 and a beta of 0.95. The stock’s fifty day moving average is C$48.97 and its 200-day moving average is C$45.86.

Russel Metals (TSE:RUS) last posted its earnings results on Tuesday, May 5th. The company reported C$1.30 earnings per share for the quarter. The company had revenue of C$1.42 billion for the quarter. Russel Metals had a net margin of 3.64% and a return on equity of 10.44%.

Russel Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 15th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, May 28th. Russel Metals’s dividend payout ratio (DPR) is presently 56.81%.

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.