Insider Selling: Richelieu Hardware (TSE:RCH) Insider Sells 12,600 Shares of Stock

Richelieu Hardware Ltd. (TSE:RCH) insider Guy Grenier sold 12,600 shares of Richelieu Hardware stock in a transaction on Friday, October 30th. The shares were sold at an average price of C$37.64, for a total transaction of C$474,264.00. Following the completion of the transaction, the insider owned 53,031 shares in the company, valued at approximately C$1,996,086.84. This trade represents a 19.20% decrease in their ownership of the stock.

Richelieu Hardware Price Performance

Shares of TSE:RCH traded up C$0.66 on Monday, reaching C$38.25. 41,786 shares of the company were exchanged, compared to its average volume of 107,333. The company has a 50-day moving average of C$36.37 and a 200-day moving average of C$38.93. 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 cap of C$2.10 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 0.77 and a beta of 0.84. Richelieu Hardware Ltd. has a 1-year low of C$33.91 and a 1-year high of C$45.03.

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

Richelieu Hardware Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.1566 per share. The ex-dividend date is Thursday, October 22nd. This represents a $0.63 annualized dividend and a dividend yield of 1.6%. Richelieu Hardware’s dividend payout ratio (DPR) is 37.09%.

Analyst Ratings Changes

Several equities research analysts have commented on RCH shares. Canadian Imperial Bank of Commerce dropped their price target on Richelieu Hardware from C$42.00 to C$39.00 in a research note on Monday, July 13th. National Bank Financial lifted their price objective on Richelieu Hardware from C$38.50 to C$39.50 and gave the company a “sector perform” rating in a research note on Friday, October 9th. One research analyst has rated the stock with a Hold rating. According to MarketBeat, the company presently 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.