Emerald Acquisition Ltd. bought a new position in shares of Drew Industries Inc. (NYSE:DW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,665 shares of the company’s stock, valued at approximately $3,450,000. Emerald Acquisition Ltd. owned about 0.17% of Drew Industries at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of DW. Norges Bank purchased a new position in Drew Industries during the fourth quarter worth about $10,701,000. Glenmede Trust Co. NA raised its position in Drew Industries by 3.9% in the first quarter. Glenmede Trust Co. NA now owns 285,730 shares of the company’s stock worth $18,417,000 after buying an additional 10,774 shares during the last quarter. Aperio Group LLC raised its position in Drew Industries by 44.3% in the first quarter. Aperio Group LLC now owns 6,255 shares of the company’s stock worth $403,000 after buying an additional 1,920 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its position in Drew Industries by 26.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 14,400 shares of the company’s stock worth $928,000 after buying an additional 3,000 shares during the last quarter. Finally, Mondrian Investment Partners LTD raised its position in Drew Industries by 8,152.5% in the first quarter. Mondrian Investment Partners LTD now owns 38,952 shares of the company’s stock worth $2,511,000 after buying an additional 38,480 shares during the last quarter. Institutional investors and hedge funds own 95.69% of the company’s stock.
Drew Industries Inc. (NYSE:DW) traded down 0.90% on Friday, reaching $97.34. 113,018 shares of the company were exchanged. The firm has a market capitalization of $2.39 billion, a PE ratio of 22.56 and a beta of 1.15. Drew Industries Inc. has a 12-month low of $51.67 and a 12-month high of $103.19. The stock has a 50 day moving average of $97.89 and a 200 day moving average of $80.22.
Drew Industries (NYSE:DW) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.22. The company 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 was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. Equities analysts anticipate that Drew Industries Inc. will post $5.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 19th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Wednesday, August 17th. Drew Industries’s payout ratio is presently 27.84%.
Separately, Citigroup Inc. raised their target price 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 2,000 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $102.60, for a total value of $205,200.00. Following the transaction, the president now directly owns 159,404 shares in the company, valued at $16,354,850.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason Lippert sold 10,000 shares of the company’s stock in a transaction dated 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 owns 145,485 shares in the company, valued at $14,538,316.05. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.
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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