Drew Industries Inc. (DW) Shares Gap Down to $86.20
Drew Industries Inc. (NYSE:DW) gapped down before the market opened on Friday . The stock had previously closed at $85.74, but opened at $86.20. Drew Industries shares last traded at $88.61, with a volume of 119,297 shares changing hands.
Separately, Citigroup Inc. lifted their price target on shares of 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 market capitalization of $2.17 billion and a PE ratio of 24.25. The stock has a 50-day moving average of $80.27 and a 200 day moving average of $66.06.
Drew Industries (NYSE:DW) last released its quarterly earnings data on Monday, May 9th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.42. During the same quarter last year, the company earned $0.82 EPS. The business had revenue of $422.80 million for the quarter, compared to analyst estimates of $408.18 million. Drew Industries’s revenue was up 17.0% compared to the same quarter last year. Analysts predict that Drew Industries Inc. will post $4.63 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Monday, June 6th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $1.20 annualized dividend and a yield of 1.35%.
In other Drew Industries news, Director Leigh J. Abrams sold 5,527 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $80.91, for a total value of $447,189.57. Following the completion of the transaction, the director now owns 75,501 shares in the company, valued at approximately $6,108,785.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jason Lippert sold 10,000 shares of the company’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $74.13, for a total transaction of $741,300.00. Following the completion of the transaction, the chief executive officer now owns 155,485 shares of the company’s stock, valued at approximately $11,526,103.05. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of the company. Mutual of America Capital Management LLC boosted its position 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 valued at $3,193,000 after buying an additional 313 shares during the period. California State Teachers Retirement System boosted its position 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 valued at $2,720,000 after buying an additional 700 shares during the period. Rhumbline Advisers boosted its position in Drew Industries by 7.1% in the fourth quarter. Rhumbline Advisers now owns 33,827 shares of the company’s stock valued at $2,060,000 after buying an additional 2,250 shares during the period. Principal Financial Group Inc. boosted its position in Drew Industries by 4.7% in the fourth quarter. Principal Financial Group Inc. now owns 159,416 shares of the company’s stock valued at $9,707,000 after buying an additional 7,159 shares during the period. Finally, Morgan Stanley boosted its position in Drew Industries by 283.5% in the fourth quarter. Morgan Stanley now owns 21,724 shares of the company’s stock valued at $1,323,000 after buying an additional 16,059 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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