Russel Metals Inc. (TSE:RUS) Announces $0.42 Quarterly Dividend

Russel Metals Inc. (TSE:RUS) declared a quarterly dividend on Wednesday, November 27th,TickerTech Dividends reports. Investors of record on Monday, December 16th will be paid a dividend of 0.42 per share on Monday, December 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Wednesday, November 27th.

Russel Metals Trading Down 1.0 %

Shares of TSE RUS opened at C$43.80 on Tuesday. Russel Metals has a 1-year low of C$35.20 and a 1-year high of C$47.39. The company has a debt-to-equity ratio of 16.88, a current ratio of 3.85 and a quick ratio of 1.44. The business’s 50 day moving average is C$40.92 and its two-hundred day moving average is C$38.97. The stock has a market capitalization of C$2.57 billion, a P/E ratio of 12.77, a PEG ratio of 0.59 and a beta of 1.52.

Russel Metals (TSE:RUS) last released its earnings results on Wednesday, November 6th. The company reported C$0.59 earnings per share for the quarter, missing the consensus estimate of C$0.61 by C($0.02). The company had revenue of C$1.09 billion for the quarter, compared to the consensus estimate of C$1.06 billion. Russel Metals had a net margin of 4.87% and a return on equity of 12.67%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. 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 report on Friday, August 2nd. Stifel Nicolaus raised their price objective on shares of Russel Metals from C$54.50 to C$57.00 in a research note on Friday. Royal Bank of Canada upped their target price on Russel Metals from C$43.00 to C$45.00 in a research note on Friday, November 8th. TD Securities increased their price target on Russel Metals from C$46.00 to C$50.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Raymond James boosted their price objective on Russel Metals from C$50.00 to C$56.00 in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$49.64.

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.