Richelieu Hardware (TSE:RCH) Insider Sells C$474,264.00 in Stock

Richelieu Hardware Ltd. (TSE:RCH) insider Guy Grenier sold 12,600 shares of the firm’s 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 directly owned 53,031 shares of the company’s stock, valued at C$1,996,086.84. This represents a 19.20% decrease in their ownership of the stock.

Richelieu Hardware Price Performance

Shares of RCH opened at C$38.25 on Thursday. The company has a market cap of C$2.10 billion, a price-to-earnings ratio of 22.77, a PEG 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. The company’s fifty day simple moving average is C$36.55 and its 200 day simple moving average is C$38.88. The company has a current ratio of 3.23, a quick ratio of 0.71 and a debt-to-equity ratio of 34.76.

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

Richelieu Hardware Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Thursday, November 5th will be issued a $0.1566 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, October 22nd. Richelieu Hardware’s dividend payout ratio is presently 37.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RCH shares. National Bank Financial raised their target price on shares of 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. Canadian Imperial Bank of Commerce lowered their price target on Richelieu Hardware from C$42.00 to C$39.00 in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, the company presently 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.