Richelieu Hardware (TSE:RCH) Insider Sells C$90,504.00 in Stock

Key Points

• Insider Guy Grenier sold 2,400 shares for C$90,504 at C$37.71, reducing his holdings by 4.33% to 53,031 shares. He also sold another 12,600 shares the following day for C$474,264.
• Richelieu shares fell 1.2% to C$37.70. The company reported quarterly EPS of C$0.53 on C$562 million in revenue and pays an annualized dividend of C$0.63 per share, a 1.7% yield.
• Analysts’ consensus rating is Hold, with an average price target of C$39.25.

Richelieu Hardware Ltd. (TSE:RCH - Get Free Report) insider Guy Grenier sold 2,400 shares of the stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of C$37.71, for a total value of C$90,504.00. Following the completion of the sale, the insider owned 53,031 shares of the company's stock, valued at C$1,999,799.01. This trade represents a 4.33% decrease in their ownership of the stock.

Guy Grenier also recently made the following trade(s):

• On Friday, October 30th, Guy Grenier sold 12,600 shares of Richelieu Hardware stock. The shares were sold at an average price of C$37.64, for a total value of C$474,264.00.

Richelieu Hardware Stock Down 1.2%

Shares of TSE:RCH traded down C$0.45 during trading on Friday, hitting C$37.70. 108,098 shares of the company's stock traded hands, compared to its average volume of 107,006. The company has a current ratio of 3.23, a quick ratio of 0.71 and a debt-to-equity ratio of 34.76. The company has a 50-day moving average price of C$36.64 and a 200-day moving average price of C$38.83. Richelieu Hardware Ltd. has a 52 week low of C$33.91 and a 52 week high of C$45.03. The company has a market cap of C$2.07 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98.

Richelieu Hardware (TSE:RCH - Get Free Report) last posted its earnings results on Thursday, October 8th. The company reported C$0.53 earnings per share (EPS) for the quarter. The business had revenue of C$562.00 million during the quarter. Richelieu Hardware had a return on equity of 9.49% and a net margin of 4.47%.

Richelieu Hardware Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 5th. Investors of record on Thursday, November 5th were issued a dividend of $0.1566 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Thursday, October 22nd. Richelieu Hardware's dividend payout ratio (DPR) is presently 37.09%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. National Bank Financial upped their target price on shares of Richelieu Hardware from C$38.50 to C$39.50 and gave the stock a "sector perform" rating in a research note on Friday, October 9th. Canadian Imperial Bank of Commerce decreased their price objective on shares of Richelieu Hardware from C$42.00 to C$39.00 in a report on Monday, July 13th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, Richelieu Hardware currently has an average rating of "Hold" and a consensus target price of C$39.25.

About Richelieu Hardware

Richelieu Hardware Ltd is a Canada-based company that imports, manufactures, and distributes specialty hardware and complementary products. Headquartered in Montreal, the company operates across Canada and the eastern and midwestern regions of the United States. The majority of the company's sales are derived from its operations in Canada. Richelieu's products include furniture, glass, decorative, window, and door hardware, lighting systems, and kitchen and closet storage. The firm primarily serves home furnishing manufacturers, residential and commercial woodworkers, hardware retailers, and renovation superstores.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.