Algert Global buys $2,762,320 stake in Drew Industries (DW)

Drew Industries (DW) : Algert Global scooped up 17,948 additional shares in Drew Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 28,943 shares of Drew Industries which is valued at $2,762,320.Drew Industries makes up approximately 0.81% of Algert Global’s portfolio.

Other Hedge Funds, Including , Advisory Services Network added DW to its portfolio by purchasing 11 company shares during the most recent quarter which is valued at $1,070.Simplex Trading boosted its stake in DW in the latest quarter, The investment management firm added 9,304 additional shares and now holds a total of 9,675 shares of Drew Industries which is valued at $940,797. Drew Industries makes up approx 0.12% of Simplex Trading’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in DW by selling 3,909 shares or 47.14% in the most recent quarter. The Hedge Fund company now holds 4,384 shares of DW which is valued at $424,897.

Drew Industries closed down -2.45 points or -2.50% at $95.44 with 1,59,813 shares getting traded on Tuesday. Post opening the session at $97.71, the shares hit an intraday low of $94.4947 and an intraday high of $97.71 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Drew Industries reported $1.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.17 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $1.34. The company had revenue of $440.83 million for the quarter, compared to analysts expectations of $407.70 million. The company’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS.

Drew Industries Incorporated through its subsidiaries supplies an array of components 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; modular housing and factory-built mobile office units. The Company operates in two segments: the RV products segment (the RV Segment) and the manufactured housing products segment (the MH Segment). the Company manufactures and markets a variety of products used primarily in the production of RVs and manufactured homes. As of 2014 the RV Segment accounted for 90% of consolidated net sales and the MH Segment accounted for 10% of consolidated net sales. RVs may be motorized (motorhomes) or towable such as travel trailers fifth-wheel travel trailers folding camping trailers and truck campers.

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