Topic: How To Invest

Power Growth Investor Hotline – Friday, August 19, 2022

Article Excerpt

RUSSEL METALS INC., $29.63, is a buy. Through their shares, investors tap one of North America’s largest metal distributors: the company (symbol RUS on Toronto) serves 33,000 clients at 48 locations in Canada and 16 others in the U.S. Russel’s revenue in the three months ended June 30, 2022, jumped 27.5%, to $1.36 billion from $1.07 billion a year earlier. That reflects the improving economy and higher oil prices. (Russel supplies pipes to oil and gas drillers.) The company earned $124.0 million, or $1.96 a share. That was up 5.3% from $117.8 million, or $1.88. The balance sheet is also sound. As of June 30, 2022, Russel held cash of $186.9 million, and its long-term debt of $295.4 million is a low 16% of its market cap. Since the third quarter of 2014, the company has paid quarterly dividends of $0.38 a share; the annual rate of $1.52 yields a high 5.1%. Russel Metals is a buy. Russel Metals recent coverage: June 2022 issue Hotline…

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