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Russel Metals Inc T.RUS

Alternate Symbol(s):  RUSMF

Industrials Industrial Distribution
Russel Metals Inc. engages in the distribution of steel and other metal products 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 various 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. The Energy Field Stores segment offers specialized products, such as flanges, valves, fittings, and other products to energy industry. The Steel Distributors segment sells steel products comprising carbon steel plate, flat rolled products, beams, channels, and pipes to other steel service centers and equipment manufacturers. Russel Metals Inc. was incorporated in 1929 and is headquartered in Mississauga, Canada.


TSX:RUS - Post by User

Russel Metals Inc
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  • ace1mccoyX
Post by ace1mccoyon Feb 12, 2024 8:15am
190 Views
Post# 35875109

Scotia Hikes

Scotia Hikes * Scotia’s Michael Doumet hiked his Russel Metals Inc. (RUS-T -0.96%decrease
) target to $50 from $46.50 with a “sector perform” rating. The average is $49.88.
 
“RUS is increasingly breaking away from its correlation with metal prices and WTI,” said Mr. Doumet. “This shift, we think, is due to its successful capital allocation (in the last three years) and its runway for additional accretive investments: a clean balance sheet provides RUS with room to capitalize on opportunities (i.e., M&A, buybacks) when metal prices are soft and optimize profits when the backdrop is favourable (i.e., higher growth capex, WC investments). Further, we believe management’s desire to maintain a conservative balance sheet (through the cycle) reinforces this shift in investor psychology. Over time, continued success is likely to lead to (further) multiple expansion.
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