Stocks Post Dip, Along With Dow
Kitchen and bath industry stocks, affected by a sell mood on Wall
Street and movement in the Dow Jones Industrial Average, fell
somewhat as 1999 got underway.
The performance of 50 key stocks of building products
manufacturers, distributors and retailers – as tracked in
Kitchen & Bath Design News’ exclusive monthly Stock
Index – slipped 55.19 points, or 2.56%, to close the trading period
from January 5-February 5 at 2101.71. Following the same early-year
pattern, the Dow Jones Industrial Average ended the month-long
trading period off 6.95 points, or 0.07%, to close at
Of the 50 stocks tracked by K&BDN, declining issues
outpaced advancing issues by 28 to 21, while eight of the stocks
were unchanged. Eight of the issues reached new 52-week highs,
while four plunged to new lows.
Leading gainers for the period included American Woodmark, Lindal
Cedar Homes and Georgia Pacific Corp. Leading decliners included
Whirlpool Corp. and General Electric.
Editor’s Note: Several of the companies listed in
this report are parent companies of – or have other financial ties
to – remodeling industry product suppliers. The following is a list
of those companies and their affiliations: Armstrong World
Industries (Triangle Pacific, Bruce Hardwood and Hartco Flooring);
Black & Decker (Price Pfister, Kwikset and DeWalt); Electrolux
AB (Frigidaire Co.); Fortune Brands (Aristokraft, Moen,
Decorá and Schrock Cabinetry Co.); Griffon Corp. (CLOPAY);
International Paper (Nevamar); Knape & Vogt (Feeny Mfg.); Masco
Corp. (Merillat Industries, KraftMaid, Delta Faucet, StarMark,
Fieldstone, Kindred Industries, Peerless Faucets, Aqua Glass/Huppe,
Melard Mfg. , Zenith Products and Baldwin Hardware); Maytag Co.
(Jenn-Air and Magic Chef); Nortek Inc. (Broan, NuTone and
Universal-Rundle); Pentair (Porter-Cable); Premark Int’l (Wilsonart
Int’l and Florida Tile); Raytheon Co. (Modern Maid, Amana and
Caloric Corp.); Tomkins (LASCO Bathware and Pegler Ltd.); U.S.
Whirlpool Bath); Whirlpool Corp. (KitchenAid and Roper).