LCI Industries $LCII Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its position in shares of LCI Industries (NYSE:LCII) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,855,968 shares of the company’s stock after selling 57,302 shares during the quarter. Vanguard Group Inc. owned approximately 11.32% of LCI Industries worth $249,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LCII. Vestcor Inc acquired a new stake in shares of LCI Industries in the first quarter valued at about $158,000. XTX Topco Ltd purchased a new position in shares of LCI Industries in the first quarter worth about $635,000. De Lisle Partners LLP lifted its stake in shares of LCI Industries by 18.3% in the first quarter. De Lisle Partners LLP now owns 29,152 shares of the company’s stock worth $2,547,000 after buying an additional 4,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of LCI Industries by 9.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,415 shares of the company’s stock worth $648,000 after buying an additional 620 shares in the last quarter. Finally, Royce & Associates LP raised its stake in LCI Industries by 6.4% during the first quarter. Royce & Associates LP now owns 581,590 shares of the company’s stock worth $50,848,000 after purchasing an additional 34,967 shares during the period. Institutional investors and hedge funds own 99.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on LCII shares. Wall Street Zen downgraded shares of LCI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. BMO Capital Markets lifted their target price on shares of LCI Industries from $80.00 to $85.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 6th. Robert W. Baird reduced their target price 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. Finally, Truist Financial boosted 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, LCI Industries has a consensus rating of “Hold” and an average target price of $103.25.

LCI Industries Price Performance

Shares of LCII opened at $102.12 on Tuesday. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38. The firm’s 50 day moving average price is $95.94 and its 200 day moving average price is $92.21. The company has a quick ratio of 1.34, a current ratio of 2.80 and a debt-to-equity ratio of 0.68. The company has a market cap of $2.48 billion, a P/E ratio of 17.05 and a beta of 1.25.

LCI Industries (NYSE:LCII) last issued its earnings results on Tuesday, August 5th. The company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.17. LCI Industries had a net margin of 3.93% and a return on equity of 11.57%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business posted $2.40 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts forecast that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a $1.15 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.60 annualized dividend and a yield of 4.5%. LCI Industries’s dividend payout ratio is 76.79%.

LCI Industries declared that its Board of Directors has approved a share buyback program on Thursday, May 15th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 13.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are 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.