Fri Sep 20 07:17:06 UTC 2024: ## Richelieu Hardware Surpasses Key Milestone, Trading Above 200-Day Moving Average

**Toronto, Canada – September 20, 2024** – Richelieu Hardware Ltd. (TSE:RCH) saw its stock price rise above its 200-day moving average on Thursday, indicating positive momentum for the company. The stock reached a high of C$40.79, surpassing the 200-day average of C$40.14. Trading closed at C$40.77, with 49,570 shares exchanging hands.

Richelieu Hardware has been the subject of recent analyst interest. National Bankshares, in a report on June 18th, set a target price of C$45.50 for the company and rated it “sector perform”. CIBC, however, reduced its price objective from C$45.00 to C$44.00 on July 15th, maintaining a “neutral” rating.

The company’s recent quarterly earnings report, released on July 11th, showed an earnings per share (EPS) of C$0.42, meeting analyst expectations. Revenue for the quarter reached C$481.43 million, slightly below the estimated C$481.90 million. Analysts predict that Richelieu Hardware will achieve an EPS of 2.0725389 for the current year.

Richelieu Hardware also announced a quarterly dividend of $0.15 per share on August 8th, with a yield of 1.47%. This represents an annualized dividend of $0.60.

Internal transactions have been observed within the company. Senior Officer Antoine Auclair sold 4,000 shares on July 23rd at an average price of C$40.25. Similarly, Senior Officer Guy Grenier sold 3,000 shares on August 26th at an average price of C$38.98. Over the past three months, insiders have sold a total of 9,100 shares, amounting to $361,346. Corporate insiders currently hold 7.62% of the company’s stock.

Richelieu Hardware manufactures and distributes specialized hardware and related products across Canada and the United States. The company’s diverse product portfolio encompasses furniture, glass, building decorative, and functional hardware, lighting systems, finishing and decorating products, and more.

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