Drew Industries Inc. (DW) Hits New 52-Week High at $86.80
Drew Industries Inc. (NYSE:DW) shares hit a new 52-week high on Thursday . The stock traded as high as $86.80 and last traded at $85.71, with a volume of 76,750 shares trading hands. The stock had previously closed at $85.45.
Separately, Citigroup Inc. raised their target price on Drew Industries from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 20th.
The firm’s 50-day moving average is $79.44 and its 200 day moving average is $65.71. The stock has a market capitalization of $2.10 billion and a price-to-earnings ratio of 23.50.
Drew Industries (NYSE:DW) last posted its earnings results on Monday, May 9th. The company reported $1.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.42. The company had revenue of $422.80 million for the quarter, compared to the consensus estimate of $408.18 million. During the same quarter last year, the business earned $0.82 EPS. Drew Industries’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities analysts forecast that Drew Industries Inc. will post $4.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Monday, June 6th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, June 2nd. This represents a $1.20 annualized dividend and a dividend yield of 1.40%.
In related news, insider Robert A. Kuhns sold 850 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $74.55, for a total transaction of $63,367.50. Following the completion of the transaction, the insider now owns 1,503 shares in the company, valued at approximately $112,048.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Scott T. Mereness sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $84.00, for a total value of $252,000.00. Following the transaction, the president now owns 144,204 shares of the company’s stock, valued at approximately $12,113,136. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of DW. Aberdeen Asset Management PLC UK increased its position in shares of Drew Industries by 19.1% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 114,270 shares of the company’s stock valued at $6,835,000 after buying an additional 18,300 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Drew Industries by 4.7% in the fourth quarter. Principal Financial Group Inc. now owns 159,416 shares of the company’s stock valued at $9,707,000 after buying an additional 7,159 shares during the last quarter. Morgan Stanley increased its position in shares of Drew Industries by 283.5% in the fourth quarter. Morgan Stanley now owns 21,724 shares of the company’s stock valued at $1,323,000 after buying an additional 16,059 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Drew Industries by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 52,440 shares of the company’s stock valued at $3,193,000 after buying an additional 313 shares during the last quarter. Finally, Boston Partners increased its position in shares of Drew Industries by 5.0% in the fourth quarter. Boston Partners now owns 805,346 shares of the company’s stock valued at $49,038,000 after buying an additional 38,102 shares during the last quarter.
Drew Industries Incorporated, through its subsidiaries, supplies an array of components in the United States and abroad for the manufacturers of recreational vehicles (RVs) and manufactured homes. The Company also supplies components for adjacent industries, including buses; trailers used to haul boats, livestock, equipment and other cargo; pontoon boats; modular housing, and mobile office units.
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