Drew Industries Inc. (DW) Hits New 1-Year High at $92.43
Drew Industries Inc. (NYSE:DW) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $92.43 and last traded at $90.15, with a volume of 147,876 shares. The stock had previously closed at $92.12.
Separately, Citigroup Inc. raised their price target on Drew Industries from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 20th.
The company has a 50 day moving average price of $82.13 and a 200 day moving average price of $66.90. The firm has a market capitalization of $2.21 billion and a P/E ratio of 24.64.
Drew Industries (NYSE:DW) last released its quarterly earnings results on Monday, May 9th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.42. The business earned $422.80 million during the quarter, compared to analysts’ expectations of $408.18 million. During the same quarter last year, the business posted $0.82 earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts expect that Drew Industries Inc. will post $4.65 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Monday, June 6th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, June 2nd.
In other Drew Industries news, President Scott T. Mereness sold 3,000 shares of the stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $84.00, for a total value of $252,000.00. Following the completion of the sale, the president now directly owns 144,204 shares in the company, valued at $12,113,136. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Scott T. Mereness sold 6,000 shares of the stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $75.83, for a total value of $454,980.00. Following the completion of the sale, the president now owns 144,204 shares of the company’s stock, valued at $10,934,989.32. The disclosure for this sale can be found here.
A number of large investors have added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in Drew Industries by 283.5% in the fourth quarter. Morgan Stanley now owns 21,724 shares of the company’s stock worth $1,323,000 after buying an additional 16,059 shares during the period. Rhumbline Advisers boosted its stake in Drew Industries by 7.1% in the fourth quarter. Rhumbline Advisers now owns 33,827 shares of the company’s stock worth $2,060,000 after buying an additional 2,250 shares during the period. California State Teachers Retirement System boosted its stake in Drew Industries by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 44,672 shares of the company’s stock worth $2,720,000 after buying an additional 700 shares during the period. Mutual of America Capital Management LLC boosted its stake in 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 worth $3,193,000 after buying an additional 313 shares during the period. Finally, Aberdeen Asset Management PLC UK boosted its stake in Drew Industries by 19.1% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 114,270 shares of the company’s stock worth $6,835,000 after buying an additional 18,300 shares during the period.
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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