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Video: What is a Stock Split?
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Hi-Tech Pharmacal develops, manufactures and markets generic and branded prescription and over the counter (OTC) products. Co.'s generic products are primarily prescription items and include oral solutions and suspensions, topical creams and ointments as well as nasal sprays. Co.'s Health Care Products division markets a line of OTC products for people with diabetes, including Diabetic Tussin®, DiabetiDerm®, Multi-betic®, Mag-Ox®, and DiabetiSweet®, and sells the Zostrix® brand of capsaicin products. Co.'s ECR Pharmaceuticals Co., Inc. subsidiary markets and distributes branded prescription pharmaceuticals that treat diseases including pain, cough/cold and allergies, and swimmer's ear. According to our HITK split history records, HITK has had 3 splits. | |
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HITK (HITK) has 3 splits in our HITK split history database. The first split for HITK took place on November 02, 1993. This was a 3 for 2
split, meaning for each 2
shares of HITK owned pre-split, the shareholder now owned 3 shares. For example, a 1000 share position pre-split, became a 1500 share position following the split. HITK's second split took place on January 21, 2003. This was a 3 for 2 split, meaning for each 2 shares of HITK owned pre-split, the shareholder now owned 3 shares. For example, a 1500 share position pre-split, became a 2250 share position following the split. HITK's third split took place on January 12, 2006. This was a 3 for 2 split, meaning for each 2 shares of HITK owned pre-split, the shareholder now owned 3 shares. For example, a 2250 share position pre-split, became a 3375 share position following the split.
When a company such as HITK splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business.
Looking at the HITK split history from start to finish, an original position size of 1000 shares would have turned into 3375 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into HITK shares, starting with a $10,000 purchase of HITK, presented on a split-history-adjusted basis factoring in the complete HITK split history.
Growth of $10,000.00
Without Dividends Reinvested
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Start date: |
03/31/2014 |
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End date: |
04/17/2014 |
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Start price/share: |
$43.33 |
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End price/share: |
$43.49 |
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Dividends collected/share: |
$0.00 |
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Total return: |
0.37% |
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Annualized Gain: |
7.93% |
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Starting investment: |
$10,000.00 |
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Ending investment: |
$10,037.00 |
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Years: |
0.05 |
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Date |
Ratio |
11/02/1993 | 3 for 2
| 01/21/2003 | 3 for 2 | 01/12/2006 | 3 for 2 |
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