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Posts Tagged ‘Elkhart Indiana’

Drew Industries Completes Fourth Acquisition of 2016

November 1st, 2016 Comments off
drewindustriescompletesfourthacquisitionof2016credit-drewatwoodeppmcom-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credits: Drew, Atwood, eppm.com.

Drew Industries Inc. (NYSE: DW) has announced their acquisition of Elkhart, Indiana based Atwood Mobile Products, Inc. via Lippert Components, Inc. (LCI), a wholly owed subsidiary. The sale is expected to be completed in November.

Atwood has been a household name in the RV and trailer markets for over 30 years,” said Scott Mereness, President of LCI.

According to erienewsnow, products acquired in the acquisition include seating frames and related components, as well as Atwood’s manual, power and scissor jacks, leveling systems and controls, couplers and hitch balls, fifth wheel landing gear and braking components.

Atwood’s chassis hardware products are a natural fit for LCI,” added Mereness.

Additionally, we expect the seating frame business will create new synergies in our RV and Marine furniture businesses. This acquisition spans many of our existing core markets and adds significant aftermarket revenue, and opens up new adjacent industry opportunities for LCI.

drewindustriesanalystfavoritereceivesbuyratingfromcitigroupcreditdrew-postedtothedailybusinessnewsmhpronewsmhlivingnews

Drew Industries at the NYSE. Credit: Drew Industries.

The acquisition of Atwood represents the fourth for Drew in 2016, preceded by the acquisitions of Highwater Marine in January, Flair Interiors in February and Project 2000 in May.

The company has seen a steady rise in its stock price, up over 40 percent for the year and recently received a “buy” rating from Citibank, which the Daily Business News covered here.

leigh_j_abrams__chairman__drew_ind__directorsandboards

Leigh J. Abrams.

As readers are aware, Drew Industries supplies component parts to the manufactured housing and recreational vehicle industries across the U.S. and in Europe, and will report Q3 earnings via conference call on November 3rd, 2016.

Drew Industries is one of the various industry-connected stocks monitored each business day on the industry’s only daily market report, featured exclusively on the Daily Business News.

For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

(Editor’s Note: For an exclusive interview with Drew’s Leigh Abrams, click here.)

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Skyline Corp. adding Manufacturing Plant in Elkhart, IN

May 17th, 2016 Comments off

skyline logo  credit skyline corpMHProNews has learned manufactured and modular housing builder Skyline Corp. will open a new factory in Elkhart, Indiana to produce affordable housing for markets in Indiana, Michigan and Illinois.

The opening of the Elkhart facility is in response to growing demand for our existing community partners,” said Skyline President and CEO Rich Florea. “The Elkhart plant will enable us to more efficiently and effectively deliver our Skyline quality and service to our customers.”

Now celebrating its 65th year, Skyline has manufacturing facilities in Indiana, Pennsylvania, Ohio, Florida, Wisconsin, Kansas, Texas, California, and Oregon, according to goshennews.

The announcement did not include the location for the new plant or how many jobs might be created, but production is supposed to begin at month’s end. ##

(Image credit: Skyline Corp.)

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

Patrick Industries Set to Release Q1 Financials

April 15th, 2016 Comments off

patrick_indMHProNews has learned from prnewswire that Patrick Industries, Inc. (NASDAQ:PATK) of Elkhart, Indiana will release it’s first quarter 2016 financials on Thurs., April 28, 2016 before the market opens.

Officials of the company, including CEO Todd Cleveland, President Andy Nemeth and CFO Josh Boone will host a conference call that same morning at 10:00 AM EST. Participation in the Q & A session of the webcast will be limited to institutional investors and analysts.

Patrick is a manufacturer of components and building products for the manufactured housing, recreational vehicle and industrial markets with locations in 14 states. ##

(Image credit: Patrick Industries, Inc.)

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

Drew Acquires Manufacturer of RV Interiors

February 29th, 2016 Comments off

drew_ind_2_logoDrew Industries, Inc. of Elkhart, Indiana has acquired Flair Interiors, Inc., a manufacturer of recreational vehicle (RV) interiors with operations in Goshen and Fort Wayne, IN, through its wholly-owned subsidiary, Lippert Components, Inc. (LCI®) for $8.1 million, according to streetinsider. Sales of Flair for 2015 wee approximately $25 million.

Drew’s President, Scott Mereness, said, “We have well-established furniture operations in both Goshen and Fort Wayne, allowing integration to become significantly easier. As the market leader in RV furniture, this transaction supports one of our goals of continued growth in our core markets.”

As MHProNews knows, Drew is a component supplier to the manufactured home (MH) and recreational vehicle industries from its 44 manufacturing and distribution facilities throughout the U. S. and Canada. ##

(Image credit: Drew Industries, Inc.)

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

Patrick Sets up Stock Buyback Program

January 26th, 2016 Comments off

patrick_industries__insideindianabusiness__creditIn a news release from prnewswire, the board of directors of Patrick Industries, Inc. (NASDAQ:PATK) has authorized a repurchase of up to $50 million of the company’s common stock over the next two years. Share buyback will be made on the open market or in private transactions.

CEO Todd Cleveland said, “This new stock repurchase program is aligned with our capital allocation strategy and reflects the confidence that our Board of Directors and management team have in Patrick’s outlook and our commitment to driving shareholder value.”

There are qualifications regarding the buyback associated with timing, self-imposed blackout periods, and insider trading laws that the company often determines. In earlier repurchases in 2014 and 2015, Patrick repurchased 1,817,313 shares of stock at an average price of $25.04 per share for a net of $46 million.

MHProNews knows Patrick, headquartered in Elkhart, Indiana is a component supplier to the manufactured housing and recreational vehicle industries. ##

(Photo credit: insideindianabusiness)

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

Skyline Reports Earnings Per Share Increase

January 15th, 2016 Comments off

skyline logo  credit skyline corpMHProNews has learned from zolmax that in its most recent quarterly financials, Skyline Corp. reports it earned +0.20 earning per share (EPS), well above the -0.41 it reported for the comparable quarter last year. No other quarterly reporting financial information was immediately available.

Skyline has a 52-week low of $2.17 and a 52-week high of $4.30. Market capitalization is $34.40 million, and the company has a 50-day moving average price of $3.30 and a 200-day moving price of $3.22. In trading Thurs., Jan. 14, the stock closed up +11.77 percent at $4.20, ten cents below it’s 52-week high.

Headquartered in Elkhart, Indiana, Skyline produces HUD Code manufactured homes, modular housing and park models. The company begin producing factory-built homes in 1951. ##

(Image credit: Skyline Corp.)

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

More Patrick Stock Sold by Gendell

January 4th, 2016 Comments off

patrick_200_day_stock_price__dakotafinancialnewsAccording to a document filed with the Securities and Exchange Commission, MHProNews has learned from dakotafinancialnews Jeffrey L. Et Al Gendell has sold another block of Patrick Industries, Inc. (NASDAQ:PATK) stock. As recorded Dec. 29, 25,000 shares were sold at an average price of $43.01, for a total transaction value of $1,075,250.00.

As MHProNews reported Jan. 1, 2016, Gendell unloaded another 15,431 shares of Patrick for a value of $645,395.87. By our figures he has sold some 345,000 shares of stock for an estimated value of over $14 million, beginning Nov. of 2014.

The stock has a 52-week low of $27.07 and a 52-week high of $48.00. Patrick has a market capitalization of $676.56 million and a PE ratio of 18.05.

The company, headquartered in Elkhart, Indiana, is a component supplier to the manufactured housing and recreational vehicle industries. ##

(Graphic credit:dakotafinancialnews–200 day movement of Patrick stock)

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

Gendell Continues Off-loading Patrick Stock

December 17th, 2015 Comments off

patrick_industries__insideindianabusiness__creditFollowing a pattern since Nov. 2014, as MHProNews has reported numerous times, Jeffrey L. Gendell is shedding more Patrick Industries, Inc. (NASDAQ:PATK) stock, this time 6,835 shares for $40.12 per share for a net of $274,220.20. Major shareholders that own ten percent or more of a stock are required to file the transaction with the Securities and Exchange Commission, which Gendell did.

In a Dec. 8, 2012 post, MHProNews reported, by our tally, Gendell had sold 237,399 shares of Patrick for a total of about $10.28 million, now about $10.5 million.

Shares of Patrick traded up on Wednesday to $40.64, according to dakotafinancialnews; company stock has a 52-week low of $27.07 and a 52-week high of $48.00. In its last quarterly earnings report Oct. 29, 2015, Patrick beat analysts’ consensus estimates of $0.55 by $0.03, hitting $0.58.

Based in Elkhart, Indiana, Patrick is a component supplier to the manufactured housing and recreational vehicle industries. ##

(Photo credit: insideindianabusiness)

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

Drew Reports 17.3% Revenue Increase

November 3rd, 2015 Comments off

drew_ind_2_logoMHProNews has learned from dakotafinancialnews that manufactured home component supplier Drew Industries (NYSE:DW) reported $0.70 earnings per share for the third quarter, 2015, missing analysts consensus of $0.74 by $0.04. Earnings per share for the same period last year were $0.64.

Drew earned $345 million during Q3, as compared to the consensus estimate of $333.14, and revenue increased 17.3 percent on a year-over-year basis.

The company, based in Elkhart, Indiana, has a 12-month low of $45.76 and a 12-month high of $65.21, and market capitalization is $1.45 billion, with a P/E ratio of 21.45. The stock has a 50-day moving average of $57.18 and a 200-day moving average price of $57.89.

In trading on the New York Stock Exchange the company stock closed down -1.15 percent at $60.12 on Nov. 3, 2015. ##

(Image credit: Drew Industries, Inc.)

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

Skyline Corp. reports Limited Q3 Results

October 16th, 2015 Comments off

skyline_corporation_homeSkyline Corp. reported its third quarter earnings, noting only that the company lost $0.10 earnings per share, as dakotafinancialnews informs MHProNews. In trading Oct. 15, 2015, shares advanced +2.36 percent to close at $2.60, as trading volume hit 7,534 shares.

The company has a 50-day moving average of $2.99 and a 200-day moving average of $3.22. With a market cap of $21.82 million, the stock’s 52-week low is $2.17 and the 52-week high is $4.30.

Headquartered in Elkhart, Indiana, Skyline Corp. produces and markets manufactured homes, modular homes and park model homes. ##

(Photo credit: Skyline Corporation)

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