Stocks Strong, But Unsettled
Stocks of publicly-traded companies with ties to the kitchen and
bath industry posted gains in September, even as the rest of Wall
Street remained unsettled in amid continuing fears of inflation and
interest rate hikes.
The performance of 47 key stocks of building products
manufacturers, distributors and retailers as tracked in Kitchen
& Bath Design News’ exclusive monthly Stock Index gained 32.15
points, or 1.34%, to close the trading period from Sept. 4-Oct. 5
at 2430.01. In contrast, the Dow Jones Industrial Average slipped
677.22 points, or 6.11%, during the same time period, closing at
10,401.23. Of the 47 stocks tracked by K&BDN, declining issues
outpaced advancing issues by a 38-7 margin, while two of the issues
remained unchanged. Four of the stocks reached a new 52-week high,
while seven plunged to new 52-week lows.
Leading gainers for the period included Home Depot, GE and
Wilsonart parent Premark International, which announced it is being
acquired by Illinois Tool Works. Losing stocks included appliance
giants Maytag Corp., Raytheon and Whirlpool Corp.