Drew Industries Inc. (DW) Hits New 1-Year High at $100.59
Shares of Drew Industries Inc. (NYSE:DW) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $100.59 and last traded at $99.97, with a volume of 66,852 shares changing hands. The stock had previously closed at $99.53.
Separately, Citigroup Inc. increased their target price on Drew Industries from $85.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 15th.
The firm has a 50-day moving average price of $93.18 and a 200-day moving average price of $74.71. The company has a market cap of $2.43 billion and a price-to-earnings ratio of 22.93.
Drew Industries (NYSE:DW) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.22. During the same period in the prior year, the business earned $0.85 earnings per share. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $413.09 million. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, analysts predict that Drew Industries Inc. will post $5.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 19th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%.
In related news, President Scott T. Mereness sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $80.00, for a total value of $240,000.00. Following the sale, the president now directly owns 144,204 shares of the company’s stock, valued at approximately $11,536,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leigh J. Abrams sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $96.43, for a total transaction of $964,300.00. Following the completion of the sale, the director now directly owns 65,516 shares in the company, valued at $6,317,707.88. The disclosure for this sale can be found here.
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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