Stocks Rally as Dow Surges

by WOHe

Stocks Rally as Dow Surges

The stocks of companies with ties to the kitchen and bath industry
mirrored the upward performance of the stock market in general
during February, as the Dow Jones Industrial Average reached record
highs, and industry stocks were among those reaping the
rewards.

The performance of 49 key stocks of building products
manufacturers, distributors and retailers – as tracked in
Kitchen & Bath Design News’ exclusive monthly Stock
Index – rose 90.23 points, or 4.29%, to close the trading session
from February 8-March 5 at 2191.94. In the meantime, the Dow Jones
Industrial Average gained 431.84 points, or 4.64%, during the
month-long period, to close at a record 9736.08.

Of the 49 stocks tracked by K&BDN, declining issues
topped advancing issues 29-18 – despite the gain in the Dow. Four
companies fell to new annual lows, and two reached new annual
highs.

Leading gainers for the period included Lindal Cedar Homes,
Associates First Capital, Lowes Co. Inc., American Woodmark,
Daltile Int’l. and USG Corp.

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.
Industries (Jacuzzi Whirlpool Bath); Whirlpool Corp. (KitchenAid
and Roper).

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