Russel Metals (TSE:RUS) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Russel Metals Inc. (TSE:RUS)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$41.52 and traded as high as C$42.06. Russel Metals shares last traded at C$42.01, with a volume of 109,782 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RUS shares. Stifel Nicolaus reduced their price target on Russel Metals from C$49.00 to C$48.00 and set a “buy” rating on the stock in a report on Friday, September 19th. Raymond James Financial reduced their price target on Russel Metals from C$56.00 to C$54.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Finally, TD Securities reduced their target price on Russel Metals from C$52.00 to C$50.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$51.60.

Russel Metals Price Performance

The company has a current ratio of 3.37, a quick ratio of 1.44 and a debt-to-equity ratio of 20.28. The company has a market cap of C$2.35 billion, a PE ratio of 14.54, a P/E/G ratio of 0.59 and a beta of 1.10. The firm has a 50 day moving average of C$41.49 and a two-hundred day moving average of C$41.52.

Russel Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 15th were paid a $0.43 dividend. The ex-dividend date was Thursday, August 28th. This represents a $1.72 annualized dividend and a dividend yield of 4.1%. Russel Metals’s dividend payout ratio is presently 58.48%.

About Russel Metals

Russel Metals Inc is a Canada-based metal distribution company. The company conducts business primarily through three metals distribution segments: metals service centers; energy products; and steel distributors. The metal service centers provide processing and distribution services to a broad base of end-users.