Long-time readers know that we keep you informed of important news about the stocks we cover. That means highlighting developments and plans that promise to brighten prospects for investors. Here are two buys that stand out this month:
RUSSEL METALS, $27.65, is a buy. The company (Toronto symbol RUS; TSINetwork Rating: Extra Risk) (www.russelmetals.com; Shares outstanding: 63.1 million; Market cap: $1.8 billion; Dividend yield: 5.5%) serves 33,000 clients at 48 locations in Canada and 16 others in the U.S.
In the three months ended June 30, 2022, Russel’s revenue 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…
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