Rhumbline Advisers Has $6.53 Million Holdings in LCI Industries (NYSE:LCII)

Rhumbline Advisers lessened its position in shares of LCI Industries (NYSE:LCII) by 0.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 74,653 shares of the company’s stock after selling 302 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of LCI Industries worth $6,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new stake in LCI Industries during the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC boosted its holdings in shares of LCI Industries by 205.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 367 shares of the company’s stock worth $37,000 after buying an additional 247 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of LCI Industries by 345.6% during the 4th quarter. LRI Investments LLC now owns 401 shares of the company’s stock worth $41,000 after buying an additional 311 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of LCI Industries during the 4th quarter worth approximately $59,000. Finally, Covestor Ltd boosted its holdings in shares of LCI Industries by 159.3% during the 4th quarter. Covestor Ltd now owns 765 shares of the company’s stock worth $79,000 after buying an additional 470 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.

Analysts Set New Price Targets

LCII has been the topic of a number of research analyst reports. Robert W. Baird cut their price target on LCI Industries from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Wall Street Zen cut LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Baird R W cut LCI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. CJS Securities upgraded LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 price target on the stock in a report on Wednesday, February 12th. Finally, Truist Financial increased their target price on LCI Industries from $80.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, June 3rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $114.50.

LCI Industries Price Performance

Shares of LCII opened at $90.63 on Thursday. LCI Industries has a 12-month low of $72.31 and a 12-month high of $129.38. The business’s fifty day moving average is $83.72 and its 200 day moving average is $96.78. The company has a quick ratio of 1.03, a current ratio of 2.82 and a debt-to-equity ratio of 0.55. The stock has a market cap of $2.29 billion, a P/E ratio of 16.18 and a beta of 1.27.

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

LCI Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Friday, May 30th. LCI Industries’s payout ratio is currently 75.41%.

LCI Industries announced that its board has approved a share repurchase plan on Thursday, May 15th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

About LCI Industries

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.