LPL Financial LLC Sells 804 Shares of LCI Industries $LCII

LPL Financial LLC trimmed its holdings in shares of LCI Industries (NYSE:LCII) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,374 shares of the company’s stock after selling 804 shares during the period. LPL Financial LLC owned 0.10% of LCI Industries worth $2,106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LCII. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in LCI Industries by 9.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,415 shares of the company’s stock worth $648,000 after acquiring an additional 620 shares during the period. Royce & Associates LP grew its stake in shares of 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. Y Intercept Hong Kong Ltd bought a new stake in LCI Industries in the first quarter valued at about $695,000. Allianz Asset Management GmbH increased its holdings in LCI Industries by 16.0% in the first quarter. Allianz Asset Management GmbH now owns 20,347 shares of the company’s stock valued at $1,779,000 after purchasing an additional 2,800 shares during the last quarter. Finally, South Dakota Investment Council lifted its stake in LCI Industries by 1.5% in the first quarter. South Dakota Investment Council now owns 27,295 shares of the company’s stock valued at $2,386,000 after buying an additional 400 shares during the period. 99.71% of the stock is owned by institutional investors.

LCI Industries Trading Up 2.4%

NYSE LCII opened at $104.6520 on Wednesday. LCI Industries has a 52 week low of $72.31 and a 52 week high of $129.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.34 and a current ratio of 2.80. The stock’s 50 day moving average price is $96.19 and its two-hundred day moving average price is $92.30. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 17.47 and a beta of 1.25.

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

LCI Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.60 annualized dividend and a yield of 4.4%. LCI Industries’s payout ratio is 76.79%.

LCI Industries declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 15th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

LCII has been the subject of a number of recent analyst reports. Robert W. Baird lowered their price target on LCI Industries from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. BMO Capital Markets increased their target price on shares of LCI Industries from $80.00 to $85.00 and gave the stock an “underperform” rating in a report on Wednesday, August 6th. 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 report on Tuesday, June 3rd. Finally, Wall Street Zen cut shares of LCI Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, LCI Industries presently has an average rating of “Hold” and an average price target of $103.25.

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.