Drew Industries Inc. (DW) Reaches New 1-Year High at $100.59
Drew Industries Inc. (NYSE:DW) shares hit 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. boosted their price target on Drew Industries from $85.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 15th.
The stock’s 50-day moving average price is $92.58 and its 200 day moving average price is $74.21. The firm has a market cap of $2.45 billion and a P/E ratio of 23.14.
Drew Industries (NYSE:DW) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.22. The business earned $4.41 billion during the quarter, compared to analysts’ expectations of $413.09 million. During the same quarter in the previous year, the company posted $0.85 EPS. The company’s quarterly revenue was up 21.7% on a year-over-year basis. Analysts forecast that Drew Industries Inc. will post $5.14 earnings per share for the current year.
The company also recently disclosed 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, CEO Jason Lippert sold 10,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $99.93, for a total value of $999,300.00. Following the completion of the transaction, the chief executive officer now owns 145,485 shares of the company’s stock, valued at approximately $14,538,316.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Scott T. Mereness sold 6,000 shares of the stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $75.83, for a total transaction of $454,980.00. Following the completion of the transaction, the president now directly owns 144,204 shares of the company’s stock, valued at approximately $10,934,989.32. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Drew Industries stock. Coe Capital Management LLC purchased a new position in shares of Drew Industries Inc. (NYSE:DW) during the fourth quarter, according to its most recent filing with the SEC. The institutional investor purchased 40,210 shares of the company’s stock, valued at approximately $2,448,000. Drew Industries accounts for approximately 1.0% of Coe Capital Management LLC’s portfolio, making the stock its 23rd largest position. Coe Capital Management LLC owned about 0.17% of Drew Industries at the end of the most recent 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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