Stocks Rally as Dow Surges

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).