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

Russel Metals Inc. (TSE:RUS) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors 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 annualized dividend and a yield of 4.36%. The ex-dividend date is Wednesday, May 29th. This is a boost from Russel Metals’s previous quarterly dividend of $0.40.

Russel Metals Price Performance

TSE:RUS traded down C$1.22 on Friday, reaching C$38.52. 173,885 shares of the company’s stock traded hands, compared to its average volume of 177,067. The firm has a market cap of C$2.31 billion, a PE ratio of 8.90, a P/E/G ratio of 0.59 and a beta of 1.54. The company has a quick ratio of 1.44, a current ratio of 4.14 and a debt-to-equity ratio of 25.76. The stock has a 50-day simple moving average of C$42.63 and a 200-day simple moving average of C$41.81. Russel Metals has a 12 month low of C$33.38 and a 12 month high of C$47.39.

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

Wall Street Analysts Forecast Growth

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

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.