Russel Metals (TSE:RUS) Stock Price Crosses Below 50-Day Moving Average of $21.84

Russel Metals Inc (TSE:RUS) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $21.84 and traded as low as $20.76. Russel Metals shares last traded at $20.93, with a volume of 74,662 shares changing hands.

Several research firms recently issued reports on RUS. BMO Capital Markets reissued a “hold” rating on shares of Russel Metals in a research report on Thursday, July 4th. Raymond James set a C$31.00 target price on Russel Metals and gave the company an “outperform” rating in a research report on Wednesday, May 22nd.

The business has a 50-day moving average price of C$21.84. The company has a market capitalization of $1.29 billion and a P/E ratio of 6.03. The company has a debt-to-equity ratio of 71.81, a current ratio of 2.75 and a quick ratio of 1.10.

Russel Metals (TSE:RUS) last announced its quarterly earnings results on Tuesday, May 7th. The company reported C$0.55 earnings per share for the quarter, hitting the consensus estimate of C$0.55. The company had revenue of C$1.03 billion for the quarter. On average, sell-side analysts forecast that Russel Metals Inc will post 2.5100001 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, June 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.30%. The ex-dividend date was Monday, May 27th. Russel Metals’s dividend payout ratio is currently 44.06%.

About Russel Metals (TSE:RUS)

Russel Metals Inc distributes steel and metal products in North America. The company operates through three segments: Metal Service Centers, Energy Products, and Steel Distributors. The Metal Service Center segment sells plates, flat rolled carbon and general line steel products, stainless steel, aluminum, and other non-ferrous specialty metal products.

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