Russel Metals (TSE:RUS) Stock Passes Above 200 Day Moving Average - Here's Why

Russel Metals Inc. (TSE:RUS - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$40.75 and traded as high as C$42.33. Russel Metals shares last traded at C$41.52, with a volume of 286,306 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RUS shares. Royal Bank of Canada raised Russel Metals from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from C$45.00 to C$51.00 in a research report on Tuesday, November 26th. TD Securities increased their target price on Russel Metals from C$46.00 to C$50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Stifel Nicolaus increased their target price on Russel Metals from C$55.50 to C$60.00 in a research report on Friday. Finally, Raymond James increased their target price on Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Russel Metals has a consensus rating of "Moderate Buy" and an average target price of C$50.93.

Russel Metals Stock Performance

The company has a market cap of C$2.46 billion, a P/E ratio of 13.80, a PEG ratio of 0.59 and a beta of 1.52. The company has a 50 day moving average price of C$42.06 and a 200-day moving average price of C$40.80. The company has a quick ratio of 1.44, a current ratio of 3.37 and a debt-to-equity ratio of 20.28.

Russel Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be paid a $0.42 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.68 annualized dividend and a dividend yield of 3.92%. Russel Metals's payout ratio is 54.12%.

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.