Perhaps the stock has reached a turning point. On December 23, Dan River purchased Home Innovator's Glenn Manufacturing facility. The facility, in conjunction with additional machinery and increased workforce, is expected to add needed manufacturing capacity. Dan River also recently acquired the Bibb Company, expanding DRF's product line to include juvenile, hospitality, and health care markets. With continued increasing sales, low costs, a larger workforce, and more manufacturing space, many consider Dan River poised for growth over the next several years.
Insiders apparently believe that the company is heading in the right direction.
From November 3 to November 5, six insiders acquired 48,500 shares. Buying for the first time since the company's IPO, two insiders purchased 10,000 shares. Director John Maypole and Director Donald Keller purchased 5,000 shares each. Leading the way, President, COO Richard Williams exercised options for 28,000 shares. VP Manufacturing Services, Gregory Boozer exercised options for 18,000 shares.