Drew Industries Inc. (DW) Declares Quarterly Dividend of $0.50
Drew Industries Inc. (NYSE:DW) announced a quarterly dividend on Thursday, November 17th. Investors of record on Monday, November 28th will be given a dividend of 0.50 per share on Friday, December 9th. This represents a $2.00 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, November 23rd. This is an increase from Drew Industries’s previous quarterly dividend of $0.30.
Shares of Drew Industries (NYSE:DW) opened at 99.60 on Friday. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 20.69 and a beta of 1.21. Drew Industries has a 1-year low of $51.67 and a 1-year high of $103.19. The company’s 50-day moving average is $93.07 and its 200 day moving average is $88.65.
Drew Industries (NYSE:DW) last posted its earnings results on Thursday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by $0.01. Drew Industries had a net margin of 7.42% and a return on equity of 24.64%. The firm earned $412.37 million during the quarter, compared to analyst estimates of $392.70 million. During the same quarter in the previous year, the business posted $0.70 earnings per share. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. On average, equities research analysts expect that Drew Industries will post $5.11 EPS for the current fiscal year.
In other Drew Industries news, President Scott T. Mereness sold 6,000 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $100.92, for a total value of $605,520.00. Following the sale, the president now directly owns 159,404 shares in the company, valued at approximately $16,087,051.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Scott T. Mereness sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $102.60, for a total transaction of $205,200.00. Following the completion of the sale, the president now owns 159,404 shares in the company, valued at $16,354,850.40. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in Drew Industries by 2.3% in the second quarter. Rhumbline Advisers now owns 34,302 shares of the company’s stock valued at $2,910,000 after buying an additional 760 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Drew Industries by 0.4% in the second quarter. TIAA CREF Investment Management LLC now owns 105,057 shares of the company’s stock valued at $8,913,000 after buying an additional 421 shares during the period. TFS Capital LLC acquired a new stake in shares of Drew Industries during the second quarter valued at $493,000. FMR LLC acquired a new stake in shares of Drew Industries during the second quarter valued at $8,484,000. Finally, State of Wisconsin Investment Board acquired a new stake in shares of Drew Industries during the second quarter valued at $848,000. Institutional investors own 95.64% of the company’s stock.
DW has been the topic of a number of research analyst reports. 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. CL King upgraded shares of Drew Industries from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Friday, November 4th.
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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