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

Russel Metals Inc. (TSE:RUS) announced a quarterly dividend on Friday, February 28th, TickerTech Dividends reports. Stockholders of record on Monday, March 17th will be paid a dividend of 0.42 per share on Monday, March 17th. This represents a $1.68 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, February 28th.

Russel Metals Stock Up 1.5 %

Shares of Russel Metals stock traded up C$0.60 during trading on Wednesday, reaching C$41.91. 20,840 shares of the company traded hands, compared to its average volume of 173,470. The firm has a market capitalization of C$2.40 billion, a PE ratio of 13.50, a P/E/G ratio of 0.59 and a beta of 1.52. Russel Metals has a 1-year low of C$35.20 and a 1-year high of C$46.87. The company has a 50 day moving average price of C$41.62 and a 200-day moving average price of C$40.92. The company has a debt-to-equity ratio of 20.28, a current ratio of 3.37 and a quick ratio of 1.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Raymond James increased their price objective on shares of Russel Metals from C$50.00 to C$56.00 in a research report on Wednesday, November 13th. Royal Bank of Canada raised Russel Metals from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$45.00 to C$51.00 in a research note on Tuesday, November 26th. Stifel Nicolaus raised their price objective on Russel Metals from C$55.50 to C$60.00 in a research note on Friday, February 14th. Finally, TD Securities upped their target price on Russel Metals from C$50.00 to C$52.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Russel Metals presently has an average rating of “Moderate Buy” and a consensus price target of C$51.21.

Insiders Place Their Bets

In related news, Director Brian Robie Hedges sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of C$42.32, for a total value of C$211,600.00. Insiders own 0.85% of the company’s stock.

About Russel Metals

Russel Metals Inc is a Canada-based metal distribution company. The company conducts business primarily through three metals distribution segments: metals service centers; energy products; and steel distributors. The metal service centers provide processing and distribution services to a broad base of end-users.