Millions in Insider Trades at Drew and Patrick Industries

mh_chassis___wikipedia_credit postedDailyBusinessNewsMHProNewsCEO of Drew Industries, Inc., Jason Lippert sold 10,000 shares of the stock in a transaction Aug. 18, 2016 at an average price of $99.93 for a total value of $999,300.00, which leaves him with 145,485 shares of company stock valued at $14,538,316.05.

Citigroup, Inc. raised their target price on Drew, according to thecerbatgem, from $85.00 to $110.00 and gave the stock a “buy” rating on Monday, Aug. 15.

Drew (NYSE:DW) declared a quarterly dividend of $0.30 which will be paid on Fri., Sept. 2, 2016 to shareholders on record as of Aug. 19.

MHProNews knows Drew supplies component parts to the manufactured housing and recreational vehicle industries across the U. S. and in Europe.

Meanwhile, across the street in Elkhart, Indiana, Andy Nemeth, President of Patrick Industries, Inc. (NASDAQ:PATK) sold 4,000 shares of company stock at an average price of $65.04 for a value of $260,160, leaving him with stock valued at $4,423,270.

On Aug. 19, Jeffrey L. Et Al Gendell sold 175,000 shares of PATK stock at an average price of $63.96 for a transaction valued at $11,193,000. Gendell now owns stock valued at $67,569,838, according to fidaily.

Director Capital Partners L. P. Tontine sold 29,000 shares at an average price of $61.43 on Fri. the 12th, resulting in a value of $1,781470. That brings the Director’s holdings to $75,647,298.

As MHProNews understands, Patrick is also a component supplier to the manufactured housing and recreational vehicle industries. ##

(Photo credit:wikipedia–manufactured home frame/chassis.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

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