Stocks Post Dip, Along With Dow

Stocks Post Dip, Along With Dow

Kitchen and bath industry stocks, affected by a sell mood on Wall Street and movement in the Dow Jones Industrial Average, fell somewhat as 1999 got underway.

The performance of 50 key stocks of building products manufacturers, distributors and retailers - as tracked in Kitchen & Bath Design News' exclusive monthly Stock Index - slipped 55.19 points, or 2.56%, to close the trading period from January 5-February 5 at 2101.71. Following the same early-year pattern, the Dow Jones Industrial Average ended the month-long trading period off 6.95 points, or 0.07%, to close at 9304.24.

Of the 50 stocks tracked by K&BDN, declining issues outpaced advancing issues by 28 to 21, while eight of the stocks were unchanged. Eight of the issues reached new 52-week highs, while four plunged to new lows.

Leading gainers for the period included American Woodmark, Lindal Cedar Homes and Georgia Pacific Corp. Leading decliners included Whirlpool Corp. and General Electric.

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).