Drew Industries Inc. (DW) Sets New 12-Month High at $86.80
Drew Industries Inc. (NYSE:DW) shares reached a new 52-week high on Thursday . The company traded as high as $86.80 and last traded at $85.71, with a volume of 76,750 shares trading hands. The stock had previously closed at $85.45.
Separately, Citigroup Inc. lifted their price objective on Drew Industries from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 20th.
The company has a 50-day moving average price of $80.27 and a 200-day moving average price of $66.06. The firm has a market cap of $2.17 billion and a P/E ratio of 24.25.
Drew Industries (NYSE:DW) last announced its earnings results on Monday, May 9th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.42. The business had revenue of $422.80 million for the quarter, compared to analyst estimates of $408.18 million. The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 earnings per share. Equities analysts anticipate that Drew Industries Inc. will post $4.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Monday, June 6th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.35%. The ex-dividend date was Thursday, June 2nd.
In other news, CEO Jason Lippert sold 10,000 shares of the stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $74.13, for a total value of $741,300.00. Following the transaction, the chief executive officer now directly owns 155,485 shares of the company’s stock, valued at $11,526,103.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert A. Kuhns sold 850 shares of the stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $74.55, for a total value of $63,367.50. Following the completion of the transaction, the insider now directly owns 1,503 shares in the company, valued at $112,048.65. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its position in shares of Drew Industries by 16.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 501,162 shares of the company’s stock worth $30,516,000 after buying an additional 71,710 shares in the last quarter. Boston Partners raised its position in shares of Drew Industries by 5.0% in the fourth quarter. Boston Partners now owns 805,346 shares of the company’s stock worth $49,038,000 after buying an additional 38,102 shares in the last quarter. Aberdeen Asset Management PLC UK raised its position 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 worth $6,835,000 after buying an additional 18,300 shares in the last quarter. Morgan Stanley raised its position in shares of 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 in the last quarter. Finally, Principal Financial Group Inc. raised its position 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 worth $9,707,000 after buying an additional 7,159 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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