Teacher Retirement System of Texas boosted its position in shares of Drew Industries Inc. (NYSE:DW) by 14.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,214 shares of the company’s stock after buying an additional 394 shares during the period. Teacher Retirement System of Texas’ holdings in Drew Industries were worth $273,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Strs Ohio bought a new stake in Drew Industries during the second quarter worth about $110,000. BlackRock Inc. boosted its stake in Drew Industries by 146.5% in the first quarter. BlackRock Inc. now owns 1,679 shares of the company’s stock worth $108,000 after buying an additional 998 shares in the last quarter. Creative Planning boosted its stake in Drew Industries by 10.1% in the second quarter. Creative Planning now owns 1,738 shares of the company’s stock worth $147,000 after buying an additional 159 shares in the last quarter. Bank of Montreal Can bought a new stake in Drew Industries during the second quarter worth about $170,000. Finally, Bruderman Asset Management LLC boosted its stake in Drew Industries by 114.4% in the second quarter. Bruderman Asset Management LLC now owns 2,165 shares of the company’s stock worth $184,000 after buying an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 93.36% of the company’s stock.
Shares of Drew Industries Inc. (NYSE:DW) opened at 93.20 on Monday. Drew Industries Inc. has a 52 week low of $51.67 and a 52 week high of $103.19. The firm has a 50-day moving average of $97.78 and a 200 day moving average of $84.03. The firm has a market cap of $2.29 billion, a PE ratio of 21.60 and a beta of 1.26.
Drew Industries (NYSE:DW) last posted its earnings results on Thursday, August 4th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.22. Drew Industries had a net margin of 6.93% and a return on equity of 23.42%. The firm earned $4.41 billion during the quarter, compared to analyst estimates of $413.09 million. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue was up 21.7% compared to the same quarter last year. Equities research analysts predict that Drew Industries Inc. will post $5.13 EPS for the current fiscal year.
Separately, Citigroup Inc. raised their target price on shares of Drew Industries from $85.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 15th.
In related news, Director Brendan Deely sold 3,500 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $100.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director now owns 13,563 shares in the company, valued at $1,356,300. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Scott T. Mereness sold 2,000 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $102.60, for a total transaction of $205,200.00. Following the transaction, the president now owns 159,404 shares of the company’s stock, valued at approximately $16,354,850.40. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by 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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