Columbia Wanger Asset Management Lowers stake in Drew Industries (DW)

Drew Industries (DW) : Columbia Wanger Asset Management reduced its stake in Drew Industries by 19.84% during the most recent quarter end. The investment management company now holds a total of 1,236,042 shares of Drew Industries which is valued at $118,227,417 after selling 305,900 shares in Drew Industries , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Drew Industries makes up approximately 1.28% of Columbia Wanger Asset Management’s portfolio.

Other Hedge Funds, Including , Algert Global added DW to its portfolio by purchasing 10,995 company shares during the most recent quarter which is valued at $1,051,672. Drew Industries makes up approx 0.40% of Algert Global’s portfolio.Rhumbline Advisers boosted its stake in DW in the latest quarter, The investment management firm added 760 additional shares and now holds a total of 34,302 shares of Drew Industries which is valued at $3,280,986. Drew Industries makes up approx 0.01% of Rhumbline Advisers’s portfolio.Teacher Retirement System Of Texas boosted its stake in DW in the latest quarter, The investment management firm added 394 additional shares and now holds a total of 3,214 shares of Drew Industries which is valued at $310,794.Victory Capital Management Inc reduced its stake in DW by selling 3,290 shares or 4.14% in the most recent quarter. The Hedge Fund company now holds 76,135 shares of DW which is valued at $7,339,414. Drew Industries makes up approx 0.03% of Victory Capital Management Inc’s portfolio.Gsa Capital Partners Llp boosted its stake in DW in the latest quarter, The investment management firm added 20,740 additional shares and now holds a total of 30,300 shares of Drew Industries which is valued at $2,830,626. Drew Industries makes up approx 0.15% of Gsa Capital Partners Llp’s portfolio.

Drew Industries opened for trading at $100.25 and hit $102.25 on the upside on Monday, eventually ending the session at $101.9, with a gain of 1.89% or 1.89 points. The heightened volatility saw the trading volume jump to 1,41,780 shares. Company has a market cap of $2,505 M.

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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