Richelieu Hardware (TSE:RCH) Insider Sells C$257,110.00 in Stock

Richelieu Hardware Ltd. (TSE:RCH) insider Guy Grenier sold 7,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of C$36.73, for a total transaction of C$257,110.00. Following the completion of the sale, the insider owned 50,289 shares in the company, valued at C$1,847,114.97. This represents a 12.22% decrease in their ownership of the stock.

Richelieu Hardware Trading Down 0.5%

TSE RCH traded down C$0.17 during trading on Friday, reaching C$37.49. 170,140 shares of the stock traded hands, compared to its average volume of 85,404. The stock’s 50-day moving average price is C$36.09 and its 200 day moving average price is C$35.53. The company has a quick ratio of 0.72, a current ratio of 3.46 and a debt-to-equity ratio of 26.37. The firm has a market cap of C$2.07 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 0.77 and a beta of 0.85. Richelieu Hardware Ltd. has a fifty-two week low of C$31.81 and a fifty-two week high of C$43.20.

Richelieu Hardware (TSE:RCH) last announced its quarterly earnings results on Thursday, October 9th. The company reported C$0.43 earnings per share (EPS) for the quarter. The company had revenue of C$499.20 million during the quarter. Richelieu Hardware had a net margin of 4.97% and a return on equity of 9.84%.

Richelieu Hardware Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, November 16th. Shareholders of record on Sunday, November 16th will be issued a $0.1533 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Thursday, October 23rd. Richelieu Hardware’s dividend payout ratio is 40.13%.

Wall Street Analysts Forecast Growth

Separately, National Bankshares raised their price target on Richelieu Hardware from C$35.00 to C$40.50 and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.