Drew Industries Inc. (DW) Hits New 1-Year High at $101.65
Drew Industries Inc. (NYSE:DW) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $101.65 and last traded at $101.65, with a volume of 58,691 shares traded. The stock had previously closed at $100.01.
Separately, Citigroup Inc. lifted their target price on Drew Industries from $85.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 15th.
The stock has a market cap of $2.51 billion and a PE ratio of 23.70. The stock has a 50 day moving average of $93.98 and a 200 day moving average of $75.22.
Drew Industries (NYSE:DW) last released its earnings results on Thursday, August 4th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.22. During the same period in the previous year, the company earned $0.85 earnings per share. The firm earned $4.41 billion during the quarter, compared to analyst estimates of $413.09 million. Drew Industries’s revenue was up 21.7% on a year-over-year basis. Equities analysts anticipate that Drew Industries Inc. will post $5.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 19th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.20%. The ex-dividend date is Wednesday, August 17th.
In other Drew Industries news, Director Brendan Deely sold 3,500 shares of the stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $100.00, for a total transaction of $350,000.00. Following the sale, the director now directly owns 13,563 shares of the company’s stock, valued at approximately $1,356,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason Lippert sold 10,000 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $99.93, for a total value of $999,300.00. Following the sale, the chief executive officer now directly owns 145,485 shares in the company, valued at $14,538,316.05. 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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