Drew Industries Inc. (DW) CEO Jason Lippert Sells 2,800 Shares of Stock
Drew Industries Inc. (NYSE:DW) CEO Jason Lippert sold 2,800 shares of the business’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $102.47, for a total transaction of $286,916.00. Following the transaction, the chief executive officer now owns 150,235 shares in the company, valued at $15,394,580.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Drew Industries Inc. (NYSE:DW) opened at 102.90 on Tuesday. The company has a market capitalization of $2.53 billion, a PE ratio of 21.38 and a beta of 1.21. Drew Industries Inc. has a one year low of $51.67 and a one year high of $104.18. The company has a 50-day moving average of $93.65 and a 200-day moving average of $90.69.
Drew Industries (NYSE:DW) last posted its earnings results on Thursday, November 3rd. The company reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The firm earned $412.37 million during the quarter, compared to analyst estimates of $392.70 million. Drew Industries had a return on equity of 24.64% and a net margin of 7.42%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.70 earnings per share. On average, analysts anticipate that Drew Industries Inc. will post $5.11 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Monday, November 28th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, November 23rd. This is a positive change from Drew Industries’s previous quarterly dividend of $0.30. This represents a $2.00 annualized dividend and a yield of 1.94%. Drew Industries’s dividend payout ratio (DPR) is 41.67%.
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DW has been the subject of a number of recent research reports. Citigroup Inc. upped their price objective on shares of Drew Industries from $85.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 15th. CL King upgraded shares of Drew Industries from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Friday, November 4th.
A number of large investors have recently bought and sold shares of the company. Rice Hall James & Associates LLC raised its stake in Drew Industries by 1.4% in the second quarter. Rice Hall James & Associates LLC now owns 193,644 shares of the company’s stock valued at $16,429,000 after buying an additional 2,730 shares during the period. Aberdeen Asset Management PLC UK raised its stake in Drew Industries by 49.0% in the second quarter. Aberdeen Asset Management PLC UK now owns 217,431 shares of the company’s stock valued at $18,447,000 after buying an additional 71,524 shares during the period. Royal Bank of Canada raised its stake in Drew Industries by 7.5% in the first quarter. Royal Bank of Canada now owns 669,495 shares of the company’s stock valued at $43,155,000 after buying an additional 46,623 shares during the period. Creative Planning raised its stake 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 during the period. Finally, Vanguard Group Inc. raised its stake in Drew Industries by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,860,939 shares of the company’s stock valued at $157,883,000 after buying an additional 55,510 shares during the period. Institutional investors own 93.84% 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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