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Winnebago Industries Inc. stock established a new 52-week high today (Oct. 16) most likely because it revealed before the market opened that its dealer order backlog has expanded to the point where it needs to operate its factories on overtime.
Winnebago’s stock climbed as high as $54.35 a share today in New York Stock Exchange trading, surpassing its previous 52-week high of $53.96. The company’s shares closed today at $53.18, up $1.03 a share for the day.
Winnebago opened a new Class C motorhome production plant in Charles City, Iowa, in March and workers at the new factory are building over 50 Class C’s per week, said Bruce Hertzke, Winnebago’s chairman, president and CEO.
“It is our intention to continue to gradually increase production within that facility throughout the coming months, allowing for additional Class A motorhome production in Forest City (Iowa) as the market demands,” Hertzke said.
Meanwhile, the stock of Drew Industries Inc., a supplier of frames for towable RVs and slideout systems, also reached a new 52-week high today.
Drew’s stock climbed as high as $20.29 a share, surpassing its previous 52-week high of $19.80. The company’s shares closed at $20.25, up 45 cents for the day.