Drew Industries: Shopping for Acquisitions?

As MHProNews reported Nov. 1, Drew Industries, Inc. announced revenue and net income gains for Q3 2013 over last year’s numbers, and has spent $3 million to increase its internal steel stamping capacity in the first nine months of this year, according to amm.com. Chief Financial Officer (CFO) Joseph S. Giordano says the company has $52 million in cash, no debt, unused lines of credit and is considering acquisitions. Through its subsidiaries, Lippert Components and Kinro, Drew supplies components to the manufactured housing and recreational vehicle industries through 31 facilities across the nation. Meanwhile, tickerreport.com stated Nov. 4 Zacks downgraded shares of Drew from outperform to a neutral rating. In trading on Nov. 4 the stock gained +4.18% to close at 51.88.

(Photo credit: Wikipedia–manufactured housing chassis)

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