CG Asset Management LLC acquired a new position in shares of Drew Industries Inc. (NYSE:DW) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 29,565 shares of the company’s stock, valued at approximately $2,508,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in Drew Industries by 146.5% in the first quarter. BlackRock Inc. now owns 1,679 shares of the company’s stock valued at $108,000 after buying an additional 998 shares in the last quarter. Strs Ohio bought a new position in Drew Industries during the second quarter valued at about $110,000. Creative Planning raised its position in Drew Industries by 10.1% in the second quarter. Creative Planning now owns 1,738 shares of the company’s stock valued at $147,000 after buying an additional 159 shares in the last quarter. Bank of Montreal Can bought a new position in Drew Industries during the second quarter valued at about $170,000. Finally, Murphy Capital Management Inc. bought a new position in Drew Industries during the second quarter valued at about $212,000. Hedge funds and other institutional investors own 95.69% of the company’s stock.
Drew Industries Inc. (NYSE:DW) traded up 0.99% on Monday, reaching $98.99. The company’s stock had a trading volume of 166,579 shares. The stock’s 50 day moving average price is $98.40 and its 200 day moving average price is $81.77. Drew Industries Inc. has a 12 month low of $51.67 and a 12 month high of $103.19. The company has a market cap of $2.43 billion, a P/E ratio of 22.95 and a beta of 1.26.
Drew Industries (NYSE:DW) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.29 by $0.22. Drew Industries had a net margin of 6.93% and a return on equity of 23.42%. The business earned $4.41 billion during the quarter, compared to the consensus estimate of $413.09 million. During the same period in the previous year, the business earned $0.85 earnings per share. The company’s revenue was up 21.7% on a year-over-year basis. Equities research analysts forecast that Drew Industries Inc. will post $5.13 earnings per share for the current year.
Separately, Citigroup Inc. raised their price target on Drew Industries from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 15th.
In other news, CEO Jason Lippert sold 10,000 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $99.93, for a total transaction of $999,300.00. Following the completion of the transaction, the chief executive officer now directly owns 145,485 shares in the company, valued at $14,538,316.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Reed sold 2,500 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $96.39, for a total transaction of $240,975.00. Following the transaction, the director now owns 35,452 shares of the company’s stock, valued at $3,417,218.28. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.
About Drew Industries
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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