M&T Bank Corp Sells 475 Shares of LCI Industries (NYSE:LCII)

M&T Bank Corp trimmed its holdings in shares of LCI Industries (NYSE:LCII) by 4.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,117 shares of the company’s stock after selling 475 shares during the quarter. M&T Bank Corp’s holdings in LCI Industries were worth $972,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. LRI Investments LLC increased its position in shares of LCI Industries by 345.6% during the fourth quarter. LRI Investments LLC now owns 401 shares of the company’s stock worth $41,000 after acquiring an additional 311 shares in the last quarter. Headlands Technologies LLC bought a new position in LCI Industries during the 4th quarter worth about $59,000. Covestor Ltd increased its holdings in LCI Industries by 159.3% during the 4th quarter. Covestor Ltd now owns 765 shares of the company’s stock worth $79,000 after purchasing an additional 470 shares in the last quarter. Lido Advisors LLC acquired a new stake in shares of LCI Industries in the 4th quarter valued at about $201,000. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of LCI Industries by 11.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,263 shares of the company’s stock valued at $234,000 after purchasing an additional 238 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

LCI Industries Stock Performance

Shares of NYSE LCII opened at $99.61 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 2.96. The stock has a 50 day moving average price of $90.50 and a 200 day moving average price of $93.28. The stock has a market capitalization of $2.51 billion, a PE ratio of 16.33 and a beta of 1.26. LCI Industries has a 52 week low of $72.31 and a 52 week high of $129.38.

LCI Industries (NYSE:LCII) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.55 by $0.64. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $972.04 million. During the same quarter in the prior year, the firm posted $1.44 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts predict that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries declared that its board has approved a share repurchase program on Thursday, May 15th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 13.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

LCI Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Friday, May 30th. LCI Industries’s dividend payout ratio (DPR) is presently 75.41%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LCII shares. Robert W. Baird decreased their price objective on LCI Industries from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Truist Financial raised their price target on shares of LCI Industries from $80.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, June 3rd. Wall Street Zen upgraded shares of LCI Industries from a “hold” rating to a “buy” rating in a report on Monday. Finally, Baird R W cut shares of LCI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $114.50.

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.