At present, company insiders own 3.6 percent of Drew Industries, Inc. stock, while institutional investors own 91.69 percent of Drew. The company has a market cap of $1,451 million and 24,142,526 shares are outstanding.
The 52-week low of Drew is $45.76 and the 52-week high is 65.21. The 50-day moving average is $57.18 and the 200 day moving average price is $57.89. The stock closed up +1.01 percent today at $58.89.
As MHProNews knows, Drew is a component supplier to the manufactured home (MH) and recreational vehicle (RV) industries, and measures its success by how much of its product is in each MH and RV, according to fool. The RV segment experienced a jump in revenue of 19 percent, fueled by a five percent rise in overall industry wholesale shipments of RVs.
Meanwhile, revenue for the manufactured home sector rose five percent to $32.2 million, which is a contribution to overall revenue of under ten percent, although MH components carry slightly higher margins than RV.
October sales were eleven percent higher than Oct. 2014, with recent acquisitions responsible for 50 percent of that increase. A slight slowdown in the RV market has resulted in higher fixed costs that have negatively affected Drew’s operating margins. In response, the company will cut indirect labor costs by $12 million to $14 million per year as it strives to improve its bottom line. ##
(Image credit: Drew Industries, Inc.)
