Russel Metals (TSE:RUS) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Russel Metals Inc. (TSE:RUS - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$39.04 and traded as high as C$40.99. Russel Metals shares last traded at C$40.83, with a volume of 79,921 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RUS shares. BMO Capital Markets reduced their target price on Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. Stifel Nicolaus decreased their price objective on shares of Russel Metals from C$55.00 to C$52.00 and set a "buy" rating for the company in a report on Friday, August 2nd. National Bankshares lowered 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. Royal Bank of Canada reduced their price target on shares of Russel Metals from C$47.00 to C$43.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 2nd. Finally, TD Securities upgraded shares of Russel Metals from a "hold" rating to a "buy" rating and increased their price objective for the stock from C$44.00 to C$46.00 in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$46.93.

Russel Metals Stock Performance

The firm has a market cap of C$2.39 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.59 and a beta of 1.52. The stock's fifty day moving average is C$38.90 and its two-hundred day moving average is C$39.02. The company has a debt-to-equity ratio of 16.88, a quick ratio of 1.44 and a current ratio of 3.85.

Russel Metals (TSE:RUS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.84 EPS for the quarter, beating the consensus estimate of C$0.83 by C$0.01. The company had revenue of C$1.07 billion for the quarter, compared to analyst estimates of C$1.08 billion. Russel Metals had a net margin of 4.87% and a return on equity of 12.67%.

Russel Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were given a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.68 dividend on an annualized basis and a yield of 4.12%. Russel Metals's dividend payout ratio is presently 48.98%.

Russel Metals Company Profile

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.