Principal Financial Group Inc. raised its position in shares of Drew Industries Inc. (NYSE:DW) by 2.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 177,876 shares of the company’s stock after buying an additional 5,002 shares during the period. Principal Financial Group Inc. owned 0.72% of Drew Industries worth $15,091,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of DW. Neumeier Poma Investment Counsel LLC boosted its position in shares of Drew Industries by 30.3% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 205,035 shares of the company’s stock worth $13,217,000 after buying an additional 47,730 shares in the last quarter. Credit Agricole S A boosted its position in shares of Drew Industries by 792.7% in the first quarter. Credit Agricole S A now owns 211,900 shares of the company’s stock worth $13,659,000 after buying an additional 188,164 shares in the last quarter. Motley Fool Wealth Management LLC boosted its position in shares of Drew Industries by 9.5% in the first quarter. Motley Fool Wealth Management LLC now owns 79,562 shares of the company’s stock worth $5,129,000 after buying an additional 6,875 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of Drew Industries during the first quarter worth about $452,000. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Drew Industries by 7.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 661,687 shares of the company’s stock worth $42,652,000 after buying an additional 46,058 shares in the last quarter. Hedge funds and other institutional investors own 95.69% of the company’s stock.
Drew Industries Inc. (NYSE:DW) traded up 0.32% on Friday, reaching $97.24. 257,271 shares of the company traded hands. The stock’s 50 day moving average price is $98.41 and its 200 day moving average price is $83.01. The company has a market capitalization of $2.39 billion, a PE ratio of 22.54 and a beta of 1.26. Drew Industries Inc. has a one year low of $51.67 and a one year high of $103.19.
Drew Industries (NYSE:DW) last announced its quarterly earnings results 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 business earned $4.41 billion during the quarter, compared to analysts’ expectations of $413.09 million. Drew Industries had a net margin of 6.93% and a return on equity of 23.42%. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 EPS. On average, equities research analysts predict that Drew Industries Inc. will post $5.13 EPS for the current fiscal year.
Separately, Citigroup Inc. lifted their price objective on shares of Drew Industries from $85.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 15th.
In related news, Director David A. Reed sold 2,500 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $96.39, for a total value of $240,975.00. Following the completion of the transaction, the director now directly owns 35,452 shares in the company, valued at approximately $3,417,218.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason Lippert sold 10,000 shares of the stock in a transaction dated Thursday, August 18th. The stock was 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 of the company’s stock, valued at $14,538,316.05. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company 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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