Hardwoods Distribution Inc. (OTCMKTS:HDIUF – Get Rating) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 68,400 shares, a decrease of 25.7% from the October 15th total of 92,000 shares. Based on an average daily volume of 1,000 shares, the short-interest ratio is presently 68.4 days.
Hardwoods Distribution Stock Performance
Shares of HDIUF opened at $18.50 on Friday. The company has a 50-day simple moving average of $19.12 and a 200-day simple moving average of $22.47. Hardwoods Distribution has a 52-week low of $16.36 and a 52-week high of $38.94.
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Hardwoods Distribution Increases Dividend
The company also recently declared a dividend, which was paid on Friday, October 28th. Stockholders of record on Monday, October 17th were issued a dividend of $0.0938 per share. The ex-dividend date of this dividend was Friday, October 14th. This is an increase from Hardwoods Distribution's previous dividend of $0.09. This represents a dividend yield of 2.16%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on HDIUF. TD Securities lowered their target price on shares of Hardwoods Distribution from C$64.00 to C$54.00 in a report on Monday, November 7th. Scotiabank decreased their price target on shares of Hardwoods Distribution from C$69.00 to C$53.00 in a research note on Wednesday. Stifel Nicolaus reduced their target price on shares of Hardwoods Distribution from C$52.00 to C$49.00 in a research note on Thursday. CIBC raised their target price on shares of Hardwoods Distribution from C$41.00 to C$46.00 in a research note on Tuesday, August 16th. Finally, Canaccord Genuity Group reduced their target price on shares of Hardwoods Distribution from C$37.00 to C$31.00 in a research note on Thursday.
Hardwoods Distribution Company Profile
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Hardwoods Distribution Inc engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets. It offers a range of decorative surfaces, including architectural grade plywood and veneers, hardwood lumber, laminates, acrylics, and composites for use in commercial and residential applications; specialty plywood and composite panel products for residential and commercial cabinet, countertop, store fixture, and RV and furniture industries; and other products comprising moldings, cabinet hardware, doors, millwork, adhesives, solid surface products, and decorative laminates.
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