Richelieu Hardware (TSE:RCH) Reaches New 52-Week Low – Here’s What Happened

Shares of Richelieu Hardware Ltd. (TSE:RCH) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$37.37 and last traded at C$37.50, with a volume of 103239 shares. The stock had previously closed at C$39.07.

Analyst Ratings Changes

Separately, CIBC decreased their price target on shares of Richelieu Hardware from C$45.00 to C$44.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th.

Richelieu Hardware Stock Performance

The firm has a fifty day moving average of C$39.29 and a 200-day moving average of C$39.68. The company has a quick ratio of 0.72, a current ratio of 3.46 and a debt-to-equity ratio of 26.31. The firm has a market cap of C$2.17 billion, a P/E ratio of 24.08, a PEG ratio of 0.77 and a beta of 0.94.

Richelieu Hardware (TSE:RCH) last issued its earnings results on Thursday, October 10th. The company reported C$0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.44 by C($0.03). Richelieu Hardware had a net margin of 4.97% and a return on equity of 10.32%. The business had revenue of C$467.75 million during the quarter, compared to the consensus estimate of C$468.40 million.

Richelieu Hardware Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Thursday, October 24th. Richelieu Hardware’s dividend payout ratio is presently 37.50%.

Insider Buying and Selling at Richelieu Hardware

In other Richelieu Hardware news, Senior Officer Antoine Auclair sold 4,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of C$40.25, for a total value of C$161,009.20. In other news, Senior Officer Guy Grenier sold 3,000 shares of Richelieu Hardware stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$38.98, for a total transaction of C$116,943.00. Also, Senior Officer Antoine Auclair sold 4,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of C$40.25, for a total transaction of C$161,009.20. Corporate insiders own 7.62% of the company’s stock.

About Richelieu Hardware

Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in Canada and the United States. The company’s principal product categories include furniture, glass and building decorative, and functional hardware; lighting systems; finishing and decorating products; ergonomic workstation components; kitchen and closet storage solutions; sliding door systems; decorative and functional panels; high-pressure laminates; railing and balusters; floor protection products; and power tool accessories.