UBS Asset Management Americas Inc. boosted its position in Drew Industries Inc. (NYSE:DW) by 31.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,631 shares of the company’s stock after buying an additional 3,032 shares during the period. UBS Asset Management Americas Inc. owned about 0.05% of Drew Industries worth $1,071,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Aperio Group LLC raised its position in Drew Industries by 44.3% in the first quarter. Aperio Group LLC now owns 6,255 shares of the company’s stock worth $403,000 after buying an additional 1,920 shares during the period. Nisa Investment Advisors L.L.C. raised its position in Drew Industries by 26.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 14,400 shares of the company’s stock worth $928,000 after buying an additional 3,000 shares during the period. Pacad Investment Ltd. bought a new position in Drew Industries during the first quarter worth $213,000. TIAA CREF Investment Management LLC raised its position in Drew Industries by 34.4% in the first quarter. TIAA CREF Investment Management LLC now owns 104,636 shares of the company’s stock worth $6,745,000 after buying an additional 26,767 shares during the period. Finally, Teachers Advisors Inc. raised its position in Drew Industries by 0.3% in the first quarter. Teachers Advisors Inc. now owns 44,546 shares of the company’s stock worth $2,871,000 after buying an additional 144 shares during the period. 93.36% of the stock is currently owned by hedge funds and other institutional investors.
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 market cap of $2.29 billion, a price-to-earnings ratio of 21.60 and a beta of 1.26. The stock has a 50 day moving average price of $97.78 and a 200 day moving average price of $84.03.
Drew Industries (NYSE:DW) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.22. Drew Industries had a return on equity of 23.42% and a net margin of 6.93%. The firm earned $4.41 billion during the quarter, compared to the consensus estimate of $413.09 million. During the same period last year, the business posted $0.85 EPS. Drew Industries’s quarterly revenue was up 21.7% on a year-over-year basis. Equities research analysts expect that Drew Industries Inc. will post $5.13 EPS for the current year.
Separately, Citigroup Inc. upped their price target on Drew Industries from $85.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 15th.
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 stock was sold at an average price of $100.92, for a total transaction of $605,520.00. Following the completion of the transaction, the president now owns 159,404 shares of the company’s stock, valued at $16,087,051.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason Lippert sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $99.93, for a total value of $999,300.00. Following the transaction, the chief executive officer now directly owns 145,485 shares of the company’s stock, valued at approximately $14,538,316.05. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.
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.