Prudential Financial Inc. increased its stake in Drew Industries Inc. (NYSE:DW) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 63,130 shares of the company’s stock after buying an additional 678 shares during the period. Prudential Financial Inc. owned approximately 0.26% of Drew Industries worth $5,355,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Strs Ohio acquired a new position in shares of Drew Industries during the second quarter valued at about $110,000. BlackRock Inc. raised its position in shares of Drew Industries by 146.5% in the first quarter. BlackRock Inc. now owns 1,679 shares of the company’s stock valued at $108,000 after buying an additional 998 shares during the last quarter. Creative Planning raised its position in shares of 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 last quarter. Bank of Montreal Can acquired a new position in shares of Drew Industries during the second quarter valued at about $170,000. Finally, Bruderman Asset Management LLC raised its position in shares of Drew Industries by 114.4% in the second quarter. Bruderman Asset Management LLC now owns 2,165 shares of the company’s stock valued at $184,000 after buying an additional 1,155 shares during the last quarter. 93.34% of the stock is owned by hedge funds and other institutional investors.
Drew Industries Inc. (NYSE:DW) traded down 1.653% during mid-day trading on Thursday, reaching $94.285. 11,248 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.32 billion, a P/E ratio of 21.856 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. The company’s 50-day moving average is $98.13 and its 200 day moving average is $83.74.
Drew Industries (NYSE:DW) last issued its earnings results on Thursday, August 4th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.22. The firm earned $4.41 billion during 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 business’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. Equities analysts predict that Drew Industries Inc. will post $5.13 earnings per share for the current fiscal year.
Separately, Citigroup Inc. raised their price objective 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 6,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $100.92, for a total value of $605,520.00. Following the completion of the sale, the president now directly owns 159,404 shares of the company’s stock, valued at $16,087,051.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leigh J. Abrams sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $96.43, for a total transaction of $964,300.00. Following the completion of the sale, the director now directly owns 65,516 shares of the company’s stock, valued at $6,317,707.88. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.
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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