HUD Code and MOD Stocks: Buy Now!
With manufactured housing increasing production nine consecutive months, as MHProNews has noted previously, smallcapnetwork says the time might be ripe to get into the manufacturing and modular housing market. Cavco Industries (NASDAQ:CVCO) reports net sales for the entire fiscal year 2012 hit $443,066,000, an increase of 156% over last year, and net income surged $4.07 million to $29.7 million. The gains are magnified by the acquisition of Palm Harbor Homes through its Fleetwood Homes subsidiary, which is half owned by Third Avenue Value Fund. The stock, up 19.7% since Jan. 1 and 34.1% over the past five years, gained 3.63% to 47.64 Thurs. Cavco produces manufactured and modular housing, park model homes and vacation cabins.
Drew Industries (NYSE:DW) provides a wide range of structural and interior components to the RV and manufactured housing industries. Sales rose 32% to 223.6 million in the first quarter 2012, producing net income of $11.1 million. In the RV division sales were up 29%, and 26% in the manufactured homes segment. On Thurs. the stock gained +0.70% to close at $27.20. The stock has gained 10.9% since Jan. 1, and is up 14.3% over the past year.
(Image credit: FotoSearch clip art)