Russel Metals Inc. Plans Quarterly Dividend of $0.42 (TSE:RUS)

Russel Metals Inc. (TSE:RUS) announced a quarterly dividend on Wednesday, November 6th,TickerTech Dividends reports. Shareholders of record on Wednesday, November 27th will be paid a dividend of 0.42 per share on Monday, December 16th. This represents a $1.68 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Wednesday, November 27th.

Russel Metals Stock Performance

Shares of RUS traded down C$1.56 during midday trading on Friday, reaching C$42.20. The stock had a trading volume of 112,253 shares, compared to its average volume of 185,178. The company has a current ratio of 3.85, a quick ratio of 1.44 and a debt-to-equity ratio of 16.88. The firm has a 50 day simple moving average of C$39.43 and a 200-day simple moving average of C$38.68. The firm has a market cap of C$2.48 billion, a PE ratio of 12.66, a P/E/G ratio of 0.59 and a beta of 1.52. Russel Metals has a one year low of C$35.20 and a one year high of C$47.39.

Russel Metals (TSE:RUS) last posted its quarterly earnings results on Wednesday, November 6th. The company reported C$0.59 EPS for the quarter, missing analysts’ consensus estimates of C$0.61 by C($0.02). The business had revenue of C$1.09 billion for the quarter, compared to the consensus estimate of C$1.06 billion. Russel Metals had a return on equity of 12.67% and a net margin of 4.87%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RUS shares. National Bankshares cut their target price on shares of Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. TD Securities upgraded Russel Metals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$44.00 to C$46.00 in a report on Monday, September 16th. BMO Capital Markets lowered their target price on Russel Metals from C$46.00 to C$45.00 in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus reduced their price target on Russel Metals from C$55.00 to C$52.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Russel Metals currently has an average rating of “Moderate Buy” and a consensus price target of C$46.93.

About Russel Metals

Russel Metals Inc operates as a metal distribution and processing company in Canada and the United States. It operates in three segments: Metals Service Centers, Energy Field Stores, and Steel Distribution. The Metal Service Centers segment operates a network of metals service centers, which provide metal products in range of sizes, shapes, and specifications, including carbon hot rolled and cold finished steel, pipe and tubular, stainless steel, aluminum, and other non-ferrous specialty metal products.