Russel Metals (TSE:RUS) Announces Earnings Results

Russel Metals (TSE:RUS) posted its earnings results on Thursday. The company reported C$1.63 earnings per share (EPS) for the quarter, FiscalAI reports. Russel Metals had a return on equity of 12.22% and a net margin of 4.04%.The firm had revenue of C$1.66 billion for the quarter.

Russel Metals Trading Down 0.7%

TSE RUS opened at C$70.25 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.86 and a debt-to-equity ratio of 29.50. The stock’s 50-day simple moving average is C$64.54 and its two-hundred day simple moving average is C$55.45. Russel Metals has a twelve month low of C$39.09 and a twelve month high of C$70.97. The company has a market capitalization of C$3.86 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 0.59 and a beta of 1.21.

Russel Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, May 28th. Russel Metals’s dividend payout ratio is currently 48.31%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets upped their price target on Russel Metals from C$51.00 to C$56.00 in a research report on Wednesday, May 6th. Scotia upped their target price on shares of Russel Metals from C$54.00 to C$62.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 7th. Royal Bank Of Canada upped their price target on shares of Russel Metals from C$63.00 to C$68.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. TD lifted their price objective on Russel Metals from C$63.00 to C$68.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Raymond James Financial boosted their target price on Russel Metals from C$65.00 to C$70.00 in a research report on Friday, June 5th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Russel Metals has an average rating of “Moderate Buy” and an average target price of C$61.17.

Insider Buying and Selling at Russel Metals

In other news, insider Martin Leb Juravsky sold 5,000 shares of Russel Metals stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of C$63.28, for a total value of C$316,400.00. Following the transaction, the insider owned 12,356 shares in the company, valued at approximately C$781,887.68. The trade was a 28.81% decrease in their ownership of the stock. Also, Director James Francis Dinning sold 2,500 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of C$62.10, for a total value of C$155,250.00. Following the completion of the sale, the director directly owned 19,250 shares of the company’s stock, valued at approximately C$1,195,425. This trade represents a 11.49% decrease in their position. In the last ninety days, insiders have sold 63,735 shares of company stock valued at $3,849,245. Corporate insiders own 0.85% of the company’s stock.

About Russel Metals

Russel Metals is one of the largest metals distribution companies in North America with a growing focus on value-added processing. It carries on business in three segments: metals service centers, energy field stores and steel distributors. Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals.