Russel Metals (RUS) Sets New 1-Year High on Analyst Upgrade

Russel Metals Inc (TSE:RUS)’s share price hit a new 52-week high during mid-day trading on Friday after Raymond James Financial raised their price target on the stock from C$32.00 to C$33.00. Raymond James Financial currently has an outperform rating on the stock. Russel Metals traded as high as C$31.82 and last traded at C$31.68, with a volume of 120315 shares. The stock had previously closed at C$30.94.

RUS has been the topic of a number of other reports. TD Securities raised their target price on shares of Russel Metals from C$34.00 to C$36.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Scotiabank restated an “outperform” rating and set a C$32.00 target price on shares of Russel Metals in a research report on Thursday, November 9th.

In related news, insider Brian Robie Hedges sold 5,200 shares of Russel Metals stock in a transaction on Monday, December 11th. The shares were sold at an average price of C$29.45, for a total value of C$153,140.00. Also, insider Marion Eleanor Britton sold 5,000 shares of Russel Metals stock in a transaction on Thursday, November 30th. The shares were sold at an average price of C$28.70, for a total transaction of C$143,500.00. Over the last 90 days, insiders have sold 12,400 shares of company stock worth $361,280.

The firm has a market capitalization of $1,960.00, a PE ratio of 15.84 and a beta of 0.72.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 15th will be given a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.52 dividend on an annualized basis and a yield of 4.80%. Russel Metals’s dividend payout ratio (DPR) is 76.00%.

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Russel Metals Company Profile

Russel Metals Inc is a metals distribution and processing company. The Company primarily distributes steel products. The Company operates through three segments: metals service centers, energy products and steel distributors. The Company provides processing and distribution services to a base of approximately 43,000 end users through a network of 50 locations in Canada and 14 locations in the United States.

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