Russel Metals Inc. (TSE:RUS) Announces Dividend Increase – $0.42 Per Share

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

Russel Metals Stock Down 3.1 %

Shares of RUS stock traded down C$1.22 on Friday, hitting C$38.52. 173,885 shares of the stock were exchanged, compared to its average volume of 177,067. The company has a current ratio of 4.14, a quick ratio of 1.44 and a debt-to-equity ratio of 25.76. The business has a 50-day moving average of C$42.63 and a 200 day moving average of C$41.81. Russel Metals has a fifty-two week low of C$33.38 and a fifty-two week high of C$47.39. The firm has a market capitalization of C$2.31 billion, a P/E ratio of 8.90, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54.

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

Analyst Ratings Changes

RUS has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target 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. Raymond James reduced 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 report on Wednesday, April 17th. TD Securities lowered their price target on shares of 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. Scotiabank dropped their price target on Russel Metals from C$50.00 to C$48.50 and set a “sector perform” rating for the company in a report on Wednesday, April 17th. Finally, Stifel Nicolaus decreased their price objective on Russel Metals from C$55.50 to C$54.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.