Algert Global LLC raised its position in Drew Industries Inc. (NYSE:DW) by 163.2% during the third quarter, Holdings Channel reports. The institutional investor owned 28,943 shares of the company’s stock after buying an additional 17,948 shares during the period. Drew Industries accounts for approximately 0.8% of Algert Global LLC’s portfolio, making the stock its 14th largest position. Algert Global LLC’s holdings in Drew Industries were worth $2,837,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Nationwide Fund Advisors raised its stake in Drew Industries by 0.3% in the second quarter. Nationwide Fund Advisors now owns 15,641 shares of the company’s stock valued at $1,327,000 after buying an additional 42 shares during the period. Public Employees Retirement System of Ohio raised its stake in Drew Industries by 3.2% in the second quarter. Public Employees Retirement System of Ohio now owns 1,483 shares of the company’s stock valued at $126,000 after buying an additional 46 shares during the period. 1st Global Advisors Inc. raised its stake in Drew Industries by 0.6% in the second quarter. 1st Global Advisors Inc. now owns 9,571 shares of the company’s stock valued at $812,000 after buying an additional 60 shares during the period. Envestnet Asset Management Inc. raised its stake in Drew Industries by 0.5% in the first quarter. Envestnet Asset Management Inc. now owns 17,951 shares of the company’s stock valued at $1,157,000 after buying an additional 90 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in Drew Industries by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the company’s stock valued at $925,000 after buying an additional 100 shares during the period. Institutional investors own 93.34% of the company’s stock.
Shares of Drew Industries Inc. (NYSE:DW) opened at 95.44 on Wednesday. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 22.12 and a beta of 1.26. The firm has a 50-day moving average of $98.24 and a 200 day moving average of $83.65. Drew Industries Inc. has a 1-year low of $51.67 and a 1-year high of $103.19.
Drew Industries (NYSE:DW) last announced its earnings results on Thursday, August 4th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.22. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $413.09 million. Drew Industries had a net margin of 6.93% and a return on equity of 23.42%. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. Equities research analysts forecast that Drew Industries Inc. will post $5.13 earnings per share for the current year.
Separately, Citigroup Inc. increased their price objective on shares of Drew Industries from $85.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 15th.
In related news, President Scott T. Mereness sold 6,000 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $100.92, for a total transaction of $605,520.00. Following the sale, the president now owns 159,404 shares of the company’s stock, valued at $16,087,051.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leigh J. Abrams sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $96.43, for a total transaction of $964,300.00. Following the sale, the director now directly owns 65,516 shares in the company, valued at approximately $6,317,707.88. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.
Drew Industries Company Profile
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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