Insider Selling: Richelieu Hardware (TSE:RCH) Insider Sells 12,600 Shares of Company 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 stock was sold at an average price of C$37.64, for a total transaction of C$474,264.00. Following the transaction, the insider directly owned 53,031 shares of the company’s stock, valued at approximately C$1,996,086.84. This represents a 19.20% decrease in their ownership of the stock.

Richelieu Hardware Stock Performance

Shares of TSE RCH traded up C$0.66 during trading on Monday, reaching C$38.25. The stock had a trading volume of 41,786 shares, compared to its average volume of 107,333. Richelieu Hardware Ltd. has a one year low of C$33.91 and a one year high of C$45.03. The company has a debt-to-equity ratio of 34.76, a quick ratio of 0.71 and a current ratio of 3.23. The stock has a market cap of C$2.10 billion, a PE ratio of 22.77, a P/E/G ratio of 0.77 and a beta of 0.84. The firm’s 50 day moving average price is C$36.37 and its two-hundred day moving average price is C$38.93.

Richelieu Hardware (TSE:RCH) last announced its quarterly 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 business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Thursday, November 5th will be given a $0.1566 dividend. The ex-dividend date is Thursday, October 22nd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.6%. Richelieu Hardware’s dividend payout ratio (DPR) is 37.09%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RCH. Canadian Imperial Bank of Commerce dropped their target price on Richelieu Hardware from C$42.00 to C$39.00 in a report on Monday, July 13th. 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 research report on Friday, October 9th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.