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

Richelieu Hardware Ltd. (TSE:RCH) insider Guy Grenier sold 2,400 shares of the company’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of C$37.71, for a total value of C$90,504.00. Following the completion of the transaction, the insider directly owned 53,031 shares in the company, valued at approximately C$1,999,799.01. This 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 stock was sold at an average price of C$37.64, for a total value of C$474,264.00.

Richelieu Hardware Stock Performance

RCH stock traded down C$0.45 during trading hours on Friday, hitting C$37.70. 108,098 shares of the stock were exchanged, compared to its average volume of 107,006. Richelieu Hardware Ltd. has a 12 month low of C$33.91 and a 12 month high of C$45.03. 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 firm has a market capitalization of C$2.07 billion, a P/E ratio of 22.44, a P/E/G ratio of 0.77 and a beta of 0.98. The company has a 50-day simple moving average of C$36.64 and a two-hundred day simple moving average of C$38.83.

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

Richelieu Hardware Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 5th. Shareholders of record on Thursday, November 5th were paid a $0.1566 dividend. The ex-dividend date was Thursday, October 22nd. This represents a $0.63 annualized dividend and a yield of 1.7%. Richelieu Hardware’s payout ratio is 37.09%.

Analysts Set New Price Targets

RCH has been the subject of a number of recent research reports. National Bank Financial boosted their price objective on shares of Richelieu Hardware from C$38.50 to C$39.50 and gave the company a “sector perform” rating in a report on Friday, October 9th. Canadian Imperial Bank of Commerce lowered their target price 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, the stock currently has a consensus 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.