LCI Industries (NYSE:LCII) Raises Dividend to $1.05 Per Share

LCI Industries (NYSE:LCIIGet Rating) declared a quarterly dividend on Thursday, May 19th, Zacks reports. Investors of record on Friday, June 3rd will be given a dividend of 1.05 per share on Friday, June 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Thursday, June 2nd. This is a boost from LCI Industries’s previous quarterly dividend of $0.90.

LCI Industries has raised its dividend by an average of 13.7% annually over the last three years and has raised its dividend every year for the last 5 years. LCI Industries has a dividend payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect LCI Industries to earn $14.41 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 25.0%.

NYSE LCII opened at $106.11 on Friday. LCI Industries has a 12 month low of $96.32 and a 12 month high of $163.33. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.47 and a quick ratio of 0.93. The firm has a market capitalization of $2.70 billion, a PE ratio of 6.59 and a beta of 1.45. The company’s 50 day simple moving average is $108.83 and its 200 day simple moving average is $129.27.

LCI Industries (NYSE:LCIIGet Rating) last issued its earnings results on Tuesday, May 10th. The company reported $7.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.48 by $3.23. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.40 billion. LCI Industries had a net margin of 8.01% and a return on equity of 37.57%. The firm’s revenue for the quarter was up 64.4% compared to the same quarter last year. During the same period last year, the firm posted $2.93 earnings per share. Sell-side analysts anticipate that LCI Industries will post 19 earnings per share for the current fiscal year.

A number of research firms recently commented on LCII. Zacks Investment Research raised shares of LCI Industries from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research note on Friday, May 13th. Truist Financial decreased their price objective on shares of LCI Industries from $165.00 to $150.00 in a research note on Wednesday, May 11th. DA Davidson began coverage on shares of LCI Industries in a research note on Wednesday, April 13th. They issued a “buy” rating and a $130.00 price objective for the company. StockNews.com began coverage on shares of LCI Industries in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, MKM Partners began coverage on shares of LCI Industries in a research note on Thursday, May 5th. They set a “buy” rating and a $153.00 target price for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $142.00.

In other news, CEO Jason Lippert bought 9,265 shares of the company’s stock in a transaction that occurred on Thursday, March 31st. The shares were purchased at an average price of $108.00 per share, for a total transaction of $1,000,620.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kieran M. O’sullivan bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The stock was purchased at an average price of $112.00 per share, for a total transaction of $560,000.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 27,515 shares of company stock valued at $2,966,138 in the last three months. Company insiders own 3.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE raised its holdings in LCI Industries by 22.1% in the 1st quarter. US Bancorp DE now owns 6,617 shares of the company’s stock worth $687,000 after acquiring an additional 1,198 shares during the period. PDT Partners LLC raised its holdings in LCI Industries by 248.6% in the 1st quarter. PDT Partners LLC now owns 6,578 shares of the company’s stock worth $683,000 after acquiring an additional 4,691 shares during the period. Zions Bancorporation N.A. increased its holdings in shares of LCI Industries by 37.8% during the 1st quarter. Zions Bancorporation N.A. now owns 5,482 shares of the company’s stock worth $569,000 after purchasing an additional 1,505 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of LCI Industries by 42.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,650 shares of the company’s stock worth $482,000 after purchasing an additional 1,382 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of LCI Industries during the 1st quarter worth about $360,000. Hedge funds and other institutional investors own 97.77% of the company’s stock.

LCI Industries Company Profile (Get Rating)

LCI Industries, together with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures and distributes a range of engineered components, such as steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; appliances; air conditioners; televisions and sound systems; and other accessories.

See Also

Dividend History for LCI Industries (NYSE:LCII)

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