RUSSEL METALS INC. $36 is a buy. The company (Toronto symbol RUS; Cyclical-Growth Dividend Payer Portfolio, Manufacturing & Industry sector; Shares outstanding: 62.1 million; Market cap: $2.2 billion; Dividend yield: 4.2%; Dividend Sustainability Rating: Above Average; www.russelmetals.com) is one of the largest metals distributors in North America with more than 30,000 end customers.
Russel has paid regular quarterly dividends of $0.38 a share since the third quarter of 2014; the annual rate of $1.52 yields a high 4.2%.
The company’s revenue in the three months ended December 31, 2022, fell 4.1%, to $1.10 billion from $1.15 billion a year earlier. That’s mainly because steel prices have moderated after shooting up in 2021. The lower revenue also contributed to the 42.6% decline in Russel’s earnings, to $0.93 a share from $1.62.
However, the shares remain attractive at a just 10.7 times the $3.37 a share that the company will probably earn in 2023.
Russel Metals is a buy.
buy.
…
Privacy Policy and Terms of Use
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