Jamie Schnur Sells 1,000 Shares of Drew Industries Inc. (DW) Stock
Drew Industries Inc. (NYSE:DW) insider Jamie Schnur sold 1,000 shares of the stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $103.00, for a total transaction of $103,000.00. Following the sale, the insider now owns 2,999 shares of the company’s stock, valued at approximately $308,897. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Drew Industries Inc. (NYSE:DW) opened at 106.35 on Wednesday. Drew Industries Inc. has a 12-month low of $51.67 and a 12-month high of $107.40. The stock has a market capitalization of $2.62 billion, a PE ratio of 22.10 and a beta of 1.21. The company’s 50-day moving average is $93.65 and its 200 day moving average is $90.69.
Drew Industries (NYSE:DW) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by $0.01. The company 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 was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. On average, analysts predict that Drew Industries Inc. will post $5.11 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Monday, November 28th will be paid a $0.50 dividend. This is a positive change from Drew Industries’s previous quarterly dividend of $0.30. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Wednesday, November 23rd. Drew Industries’s dividend payout ratio is currently 41.67%.
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Several hedge funds have recently modified their holdings of DW. ETRADE Capital Management LLC bought a new stake in shares of Drew Industries during the third quarter worth $904,000. Sheets Smith Wealth Management acquired a new stake in Drew Industries during the third quarter worth approximately $773,000. LPL Financial LLC acquired a new stake in Drew Industries during the third quarter worth approximately $277,000. Credit Suisse AG increased its stake in Drew Industries by 35.1% in the third quarter. Credit Suisse AG now owns 26,642 shares of the company’s stock worth $2,612,000 after buying an additional 6,917 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Drew Industries during the third quarter worth approximately $537,000. 93.84% of the stock is owned by institutional investors.
Several research analysts recently issued reports on DW shares. Citigroup Inc. increased their price target 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 raised shares of Drew Industries from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, November 4th.
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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