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

Russel Metals Inc. (TSE:RUS) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$41.15 and traded as high as C$43.00. Russel Metals shares last traded at C$42.39, with a volume of 142,787 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RUS shares. TD Securities increased their target price on shares of Russel Metals from C$50.00 to C$52.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. National Bankshares decreased their target price on shares of Russel Metals from C$58.00 to C$55.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Stifel Nicolaus reduced their price objective on shares of Russel Metals from C$54.00 to C$53.00 and set a “buy” rating for the company in a research report on Thursday, May 8th.

Russel Metals Stock 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’s 50-day moving average price is C$39.27 and its two-hundred day moving average price is C$41.15. The company has a market cap of C$2.43 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52.

Russel Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 16th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.06%. This is a boost from Russel Metals’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, May 29th. Russel Metals’s dividend payout ratio (DPR) is presently 54.12%.

Insiders Place Their Bets

In other Russel Metals news, Director Brian Robie Hedges sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$42.32, for a total value of C$211,600.00. Corporate insiders own 0.85% of the company’s stock.

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.