Russel Metals Inc. (TSE:RUS) Raises Dividend to $0.42 Per Share

Russel Metals Inc. (TSE:RUS) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Wednesday, May 29th will be paid a dividend of 0.42 per share on Friday, June 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Wednesday, May 29th. This is a boost from Russel Metals’s previous quarterly dividend of $0.40.

Russel Metals Stock Down 3.1 %

Shares of Russel Metals stock traded down C$1.22 during trading on Friday, reaching C$38.52. The company had a trading volume of 173,885 shares, compared to its average volume of 177,067. The company has a market cap of C$2.31 billion, a price-to-earnings ratio of 8.90, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. The firm’s fifty day moving average is C$42.63 and its 200-day moving average is C$41.81. The company has a debt-to-equity ratio of 25.76, a quick ratio of 1.44 and a current ratio of 4.14. Russel Metals has a fifty-two week low of C$33.38 and a fifty-two week high of C$47.39.

Russel Metals (TSE:RUS) last announced its quarterly earnings data on Thursday, February 8th. The company reported C$0.78 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.06. Russel Metals had a net margin of 5.92% and a return on equity of 16.67%. The business had revenue of C$1.02 billion during the quarter, compared to the consensus estimate of C$1.06 billion. On average, analysts anticipate that Russel Metals will post 3.5926623 EPS for the current year.

Wall Street Analysts Forecast Growth

RUS has been the subject of a number of recent research reports. Scotiabank lowered their price objective on shares of Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating for the company in a research report on Wednesday, April 17th. Raymond James decreased their target price on shares of Russel Metals from C$52.00 to C$48.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. TD Securities cut their price target on Russel Metals from C$48.00 to C$45.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus decreased their price objective on Russel Metals from C$55.50 to C$54.00 and set a “buy” rating for the company in a report on Friday, April 19th. Finally, BMO Capital Markets lifted their target price on Russel Metals from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$47.64.

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.