Stocks Post Gain Again in March
Stocks with ties to the kitchen and bath industry could not be
dampened by the onset of NATO air strikes in Kosovo, rising in
March along with the Dow Jones Industrial Average as the industry
continued on its current growth curve.
The performance of 49 key stocks of building products
manufacturers, distributors and retailers – as tracked in
Kitchen & Bath Design News’ exclusive monthly Stock
Index – increased 156.76 points, or 7.15%, to close the trading
period from March 5-April 5 at 2348.61. By comparison, the Dow
Jones Industrial Average posted a 271.25-point, or 2.79%, gain
during the same time period.
Of the 49 stocks tracked by K&BDN, advancing issues
bested declining issues 31 to 16, with two stocks remaining
unchanged. Eight of the stocks reached new 52-week highs, while
five recorded new 52-week lows.
Top gainers for the period included General Electric, Fortune
Brands and Domtar, Inc. Lindal Cedar Homes, Knape & Vogt. Mfg.,
3M Corp. and Armstrong World Industries were among the biggest
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).