The details for the headline acquisition of a manufactured housing, and RV industry connected company are found further below.
If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline reports are found further below, just beyond the Manufactured Housing Composite Value for today.
The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.
Part of this unique feature provides headlines – from both sides of the left-right media divide – that saves readers time, while underscoring topics that may be moving investors, which in turn move the markets.
Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.
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Today’s markets and stocks, at the closing bell…
S&P 500 2,648.05 -21.86(-0.82%)
Dow 30 24,163.15 -148.04(-0.61%)
Nasdaq 7,066.27 -53.53(-0.75%)
Russell 2000 1,541.88 -14.35(-0.92%)
Crude Oil 68.45 +0.35(+0.51%)
Gold 1,317.10 -6.30(-0.48%)
Silver 16.27 -0.14(-0.83%)
EUR/USD 1.208 -0.0045(-0.37%)
10-Yr Bond 2.94 -0.02(-0.71%)
Manufactured Housing Composite Value (MHCV)
Today’s Big Movers
For all the scores and highlights on tracked manufactured home connected stocks today, see the Bloomberg graphic, posted below.
Today’s MH Market Spotlight Report –
Patrick Industries Completes Acquisition of Dehco Inc.
ELKHART, IN — “Patrick Industries Inc. has completed the $53 million acquisition of Dehco Inc., headquartered in Elkhart, a distributor and manufacturer of parts and accessories for the recreational vehicle, manufactured housing and marine market,” reports Goshen News.
Patrick Industries says that Dehco operates one manufacturing facility in Indiana and four distribution centers in Indiana, Oregon, Pennsylvania and Alabama. Dehco’s 2017 revenues were approximately $88 million.
“Dehco’s complementary product lines align with our existing RV product portfolio and provide us with an opportunity to leverage our existing manufacturing and distribution platforms and nationwide geographic footprint to further increase our RV content per unit and product offerings in the primary markets we serve,” said Todd Cleveland, chief executive officer of Patrick.
“This acquisition is well-aligned with our strategic initiatives and capital allocation strategy and we look forward to working with the Dehco team to help further drive brand value,” said Andy Nemeth, president of Patrick Industries. “Consistent with previous acquisitions, we will support Dehco with a financial and operational foundation that will allow it to capitalize on its core competencies while preserving the entrepreneurial spirit that has been so important to its success.”
Patrick will continue to operate Dehco on a stand-alone basis under its brand name in its existing facilities.
Patrick Industries Inc. is manufacturer of component products and a distributor of building products serving the recreational vehicle, manufactured housing, marine, kitchen cabinet, office and household furniture, fixtures and commercial furnishings, and other industrial markets. Their closing numbers today are part of our Bloomberg ticker, further below.
The trend of consolidation in MHVille, continues…stay tuned for more emerging news, details and updates.
Bloomberg Closing Ticker for MHProNews…
NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.
NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.
NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.
LCI Industries, Patrick, UFPI and LP all supply manufactured housing.
AMG, CG and TAVFX have investments in manufactured housing related businesses.
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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.