Richelieu Hardware Ltd. (RCH) Sets New 1-Year High at $35.25

Richelieu Hardware Ltd. (TSE:RCH) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$35.25 and last traded at C$35.19, with a volume of 31572 shares changing hands. The stock had previously closed at C$35.07.

A number of research firms have commented on RCH. Scotiabank upped their target price on shares of Richelieu Hardware from C$30.00 to C$36.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 10th. National Bank Financial upped their target price on shares of Richelieu Hardware from C$33.50 to C$36.00 and gave the company an “outperform” rating in a research report on Friday, October 6th.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Thursday, November 2nd were given a $0.0567 dividend. The ex-dividend date of this dividend was Wednesday, October 18th. This represents a $0.23 dividend on an annualized basis and a yield of 0.64%. Richelieu Hardware’s payout ratio is currently 19.30%.

In other Richelieu Hardware news, Director Richard Lord sold 30,000 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of C$34.10, for a total value of C$1,023,000.00. Insiders sold 30,600 shares of company stock worth $1,043,133 in the last ninety days.

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About Richelieu Hardware

Richelieu Hardware Ltd. is a distributor, importer and manufacturer of specialty hardware and complementary products. The Company’s 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, window and door hardware, glass hardware and floor protection products.

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