Drew Industries Inc. (DW) Sets New 12-Month High at $92.43
Drew Industries Inc. (NYSE:DW) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $92.43 and last traded at $90.15, with a volume of 147,876 shares traded. The stock had previously closed at $92.12.
Separately, Citigroup Inc. lifted their price objective on shares of Drew Industries from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 20th.
The company has a market capitalization of $2.20 billion and a P/E ratio of 24.59. The company has a 50 day moving average price of $81.30 and a 200-day moving average price of $66.55.
Drew Industries (NYSE:DW) last posted its earnings results on Monday, May 9th. The company reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.42. The company earned $422.80 million during the quarter, compared to analyst estimates of $408.18 million. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 EPS. On average, equities analysts anticipate that Drew Industries Inc. will post $4.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Monday, June 6th were given a $0.30 dividend. The ex-dividend date was Thursday, June 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 1.30%.
In other news, President Scott T. Mereness sold 3,000 shares of the stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $84.00, for a total transaction of $252,000.00. Following the sale, the president now owns 144,204 shares of the company’s stock, valued at $12,113,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leigh J. Abrams sold 5,527 shares of the stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $80.91, for a total transaction of $447,189.57. Following the sale, the director now directly owns 75,501 shares in the company, valued at approximately $6,108,785.91. The disclosure for this sale can be found here.
Several hedge funds have modified their holdings of DW. Boston Partners boosted its stake 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 in the last quarter. Aberdeen Asset Management PLC UK boosted its stake 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 in the last quarter. Morgan Stanley boosted its stake 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 in the last quarter. Principal Financial Group Inc. boosted its stake 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 in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Drew Industries by 7.1% in the fourth quarter. Rhumbline Advisers now owns 33,827 shares of the company’s stock valued at $2,060,000 after buying an additional 2,250 shares in 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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