Russel Metals (TSE:RUS) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Russel Metals Inc. (TSE:RUS)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$39.04 and traded as high as C$40.99. Russel Metals shares last traded at C$40.83, with a volume of 79,921 shares changing hands.

Analyst Upgrades and Downgrades

RUS has been the subject of several analyst reports. National Bankshares dropped their price target on shares of Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. BMO Capital Markets reduced their price target on Russel Metals from C$46.00 to C$45.00 in a report on Wednesday, July 24th. Stifel Nicolaus dropped their price objective on Russel Metals from C$55.00 to C$52.00 and set a “buy” rating for the company in a report on Friday, August 2nd. TD Securities raised Russel Metals from a “hold” rating to a “buy” rating and boosted their target price for the company from C$44.00 to C$46.00 in a research note on Monday, September 16th. Finally, Royal Bank of Canada dropped their price target on Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$46.93.

Russel Metals Stock Performance

The company has a 50 day moving average of C$38.86 and a two-hundred day moving average of C$39.04. The company has a debt-to-equity ratio of 16.88, a current ratio of 3.85 and a quick ratio of 1.44. The company has a market capitalization of C$2.40 billion, a PE ratio of 11.90, a PEG ratio of 0.59 and a beta of 1.52.

Russel Metals (TSE:RUS) last released its earnings results on Wednesday, July 31st. The company reported C$0.84 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.83 by C$0.01. Russel Metals had a net margin of 4.87% and a return on equity of 12.67%. The firm had revenue of C$1.07 billion for the quarter, compared to the consensus estimate of C$1.08 billion.

Russel Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Wednesday, August 28th. Russel Metals’s dividend payout ratio is 48.98%.

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.