Drew Industries Inc. (DW) Reaches New 1-Year High at $103.19
Drew Industries Inc. (NYSE:DW) hit a new 52-week high during trading on Tuesday . The stock traded as high as $103.19 and last traded at $102.14, with a volume of 114,797 shares. The stock had previously closed at $102.46.
Separately, Citigroup boosted their price target on shares of Drew Industries from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 20th.
The firm has a market capitalization of $2.51 billion and a price-to-earnings ratio of 23.66. The stock has a 50 day moving average price of $95.73 and a 200-day moving average price of $77.09.
Drew Industries (NYSE:DW) last announced its earnings results on Thursday, August 4th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.22. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $413.09 million. The business’s revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. On average, equities research analysts forecast that Drew Industries Inc. will post $5.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 19th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, August 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%.
In related news, President Scott T. Mereness sold 3,000 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $80.00, for a total transaction of $240,000.00. Following the completion of the sale, the president now directly owns 144,204 shares of the company’s stock, valued at $11,536,320. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Scott T. Mereness sold 6,000 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $100.92, for a total value of $605,520.00. Following the sale, the president now directly owns 159,404 shares of the company’s stock, valued at $16,087,051.68. 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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