LCI Industries (NYSE:LCII) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of LCI Industries (NYSE:LCII) by 4.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 342,016 shares of the company’s stock after selling 15,613 shares during the quarter. Bank of New York Mellon Corp owned about 1.36% of LCI Industries worth $29,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in LCII. Summit Investment Advisors Inc. increased its holdings in LCI Industries by 5.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,595 shares of the company’s stock worth $268,000 after purchasing an additional 130 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position 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 acquiring an additional 238 shares during the period. LRI Investments LLC lifted 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 acquiring an additional 311 shares during the period. Wesbanco Bank Inc. lifted its holdings in shares of LCI Industries by 12.2% during the 1st quarter. Wesbanco Bank Inc. now owns 3,043 shares of the company’s stock worth $266,000 after acquiring an additional 330 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of LCI Industries by 0.8% during the 4th quarter. Swiss National Bank now owns 50,100 shares of the company’s stock worth $5,180,000 after acquiring an additional 400 shares during the period. 99.71% of the stock is owned by institutional investors and hedge funds.

LCI Industries Trading Down 2.6%

Shares of LCII opened at $96.93 on Wednesday. The firm’s fifty day moving average is $91.18 and its two-hundred day moving average is $93.28. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38. The company has a quick ratio of 1.41, a current ratio of 2.96 and a debt-to-equity ratio of 0.68. The stock has a market cap of $2.45 billion, a PE ratio of 15.89 and a beta of 1.26.

LCI Industries (NYSE:LCII) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.64. LCI Industries had a net margin of 4.08% and a return on equity of 11.63%. 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 company posted $1.44 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts forecast that LCI Industries will post 6.76 earnings per share for the current fiscal year.

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

LCI Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $1.15 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.75%. LCI Industries’s dividend payout ratio (DPR) is 75.41%.

Wall Street Analysts Forecast Growth

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

LCI Industries 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.