Hardwoods Distribution Inc. (OTCMKTS:HDIUF – Get Rating) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 49,900 shares, a decrease of 49.6% from the November 15th total of 99,100 shares. Based on an average trading volume of 100 shares, the days-to-cover ratio is currently 499.0 days.
Analysts Set New Price Targets
A number of brokerages have weighed in on HDIUF. CIBC upped their price target on shares of Hardwoods Distribution from C$41.00 to C$46.00 in a report on Tuesday, August 16th. Stifel Nicolaus cut their price target on shares of Hardwoods Distribution from C$52.00 to C$49.00 in a report on Thursday, November 10th. TD Securities cut their price objective on Hardwoods Distribution from C$64.00 to C$54.00 in a report on Monday, November 7th. Canaccord Genuity Group cut their price objective on Hardwoods Distribution from C$37.00 to C$31.00 in a report on Thursday, November 10th. Finally, Scotiabank cut their price objective on Hardwoods Distribution from C$69.00 to C$53.00 in a report on Wednesday, November 9th.
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Hardwoods Distribution Stock Performance
OTCMKTS HDIUF remained flat at $20.99 on Tuesday. The company's stock had a trading volume of 5 shares, compared to its average volume of 1,291. The company's fifty day moving average price is $18.56 and its 200 day moving average price is $21.50. Hardwoods Distribution has a 12-month low of $16.36 and a 12-month high of $38.11.
Hardwoods Distribution Increases Dividend
The firm also recently announced a dividend, which was paid on Friday, October 28th. Stockholders of record on Monday, October 17th were issued a $0.0938 dividend. This is an increase from Hardwoods Distribution's previous dividend of $0.09. The ex-dividend date was Friday, October 14th. This represents a dividend yield of 2.16%.
About Hardwoods Distribution
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Hardwoods Distribution (HDIUF)
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