Drew Industries (DW +8%) hits a new 52-week high despite missing on its Q4 EPS estimates earlier today. Revenues beat however, as the company reported a 50% increase in net sales due to a jump in profit from both its RV and manufactured housing segments. Wholesale shipments of travel trailers and fifth-wheel RVs, its primary RV market, increased by 16%.
Drew Industries (DW) purchases Starquest Products for $23M, marking its 4th acquisition of the year. The company says it still has more than $150M of unused borrowing capacity it can use to "pursue strategic expansion opportunities."
RV components maker Drew Industries (DW -6.4%) takes a hit after its Q2 missed estimates due to slower-than-anticipated economic growth and higher material costs. The company reafirms FY11 guidance, but says those figures are "highly subjective" to the health of the U.S. economy.