UPDATE: Russel Metals Down More Than 1% As Posts Lower Q3 Profit; Shrs Hit Yr Highs Tuesday
Russel Metals Inc. (RUS.TO), which rose 1.5% and hit year highs Tuesday, has lost most of those gains already today as it announced third quarter 2012 earnings of $23 million or $0.37 per share on revenues of $713 million compared to earnings of $26 million or $0.43 per share in the third quarter of 2011. Analysts on average had expected earnings of 42 cents a share, according to Thomson Reuters I/B/E/S.
It declared a dividend in the amount of $0.35 per share on its common shares, payable on December 17, 2012 to shareholders of record at the close of business on November 26, 2012.
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