LCI Industries (NYSE:LCII) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its holdings in shares of LCI Industries (NYSE:LCII) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 214,501 shares of the company’s stock after selling 15,289 shares during the period. Bank of America Corp DE owned approximately 0.84% of LCI Industries worth $22,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LCII. Ameriprise Financial Inc. boosted its position in shares of LCI Industries by 3.1% during the 4th quarter. Ameriprise Financial Inc. now owns 112,356 shares of the company’s stock worth $11,617,000 after purchasing an additional 3,349 shares in the last quarter. Lido Advisors LLC acquired a new stake in shares of LCI Industries in the fourth quarter valued at about $201,000. Northern Trust Corp boosted its holdings in LCI Industries by 12.9% during the fourth quarter. Northern Trust Corp now owns 319,742 shares of the company’s stock worth $33,058,000 after buying an additional 36,505 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in LCI Industries by 3.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 46,645 shares of the company’s stock worth $4,823,000 after buying an additional 1,758 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in LCI Industries during the fourth quarter worth about $772,000. Institutional investors and hedge funds own 99.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LCII. Truist Financial reduced their price target on shares of LCI Industries from $108.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Baird R W cut LCI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Robert W. Baird decreased their target price on LCI Industries from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. CJS Securities raised LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Wednesday, February 12th. Finally, StockNews.com raised LCI Industries from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $112.50.

LCI Industries Stock Performance

LCI Industries stock opened at $91.45 on Monday. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 16.33 and a beta of 1.26. The stock has a fifty day moving average of $83.46 and a two-hundred day moving average of $99.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 2.82.

LCI Industries (NYSE:LCII) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.64. LCI Industries had a return on equity of 10.28% and a net margin of 3.82%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $972.04 million. During the same quarter last year, the business posted $1.44 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts anticipate that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 15th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 13.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

LCI Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $1.15 per share. The ex-dividend date is Friday, May 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 5.03%. LCI Industries’s dividend payout ratio (DPR) is presently 75.41%.

LCI Industries Company Profile

LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments: Original Equipment Manufacturers (OEM) and Aftermarket.