12:57:42 EDT Fri 19 Apr 2024
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Inv Reporter says buy Hardwoods Distribution

2022-12-09 20:14 ET - In the News

The Investment Reporter, in its Dec. 2, 2022, issue, says buy Hardwoods Distribution Inc., recently $24.62. The Reporter said buy six times from Sept. 28, 2018, to April 22, 2022, at prices ranging from $10.22 to $36.50. Assuming a $1,000 investment for each of the six buys, the $6,000 position would now be worth $8,173. Hardwoods Distribution is a distributor of architectural building products operating under multiple brands across North America. The company is changing its name to Adentra Inc. With the release of its third quarter 2022 results in November, Hardwoods increased its dividend from 48 cents to 52 cents a share. The increase was marginally higher than inflation. The 52-cent-a-share dividend is equal to a modest yield of 2.1 per cent. The Reporter says buy Hardwoods Distribution, mostly for long-term share price gains as developers build more housing.

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