Bayforest Capital Ltd Sells 8,255 Shares of LCI Industries $LCII

Bayforest Capital Ltd lessened its stake in LCI Industries (NYSE:LCII) by 90.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 894 shares of the company’s stock after selling 8,255 shares during the quarter. Bayforest Capital Ltd’s holdings in LCI Industries were worth $83,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LCII. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of LCI Industries in the 2nd quarter valued at about $26,000. Signaturefd LLC raised its stake in LCI Industries by 591.5% in the second quarter. Signaturefd LLC now owns 325 shares of the company’s stock valued at $30,000 after buying an additional 278 shares during the period. Financial Consulate Inc. acquired a new stake in shares of LCI Industries in the third quarter valued at approximately $56,000. Hilltop National Bank acquired a new stake in shares of LCI Industries in the second quarter valued at approximately $66,000. Finally, GAMMA Investing LLC boosted its stake in shares of LCI Industries by 129.0% during the 2nd quarter. GAMMA Investing LLC now owns 758 shares of the company’s stock worth $69,000 after acquiring an additional 427 shares during the period. 99.71% of the stock is owned by institutional investors.

LCI Industries Trading Down 0.6%

LCII stock opened at $132.67 on Thursday. LCI Industries has a 52 week low of $72.31 and a 52 week high of $133.95. The company has a market capitalization of $3.21 billion, a PE ratio of 18.56 and a beta of 1.31. The company’s 50-day simple moving average is $118.36 and its 200 day simple moving average is $104.97. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.28 and a current ratio of 2.78.

LCI Industries (NYSE:LCII) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.53. LCI Industries had a return on equity of 12.60% and a net margin of 4.49%.The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $963.96 million. During the same period in the previous year, the company posted $1.39 earnings per share. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were given a $1.15 dividend. The ex-dividend date was Friday, November 28th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.5%. LCI Industries’s dividend payout ratio (DPR) is presently 64.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LCII shares. Truist Financial increased their price target on LCI Industries from $88.00 to $91.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Loop Capital began coverage on shares of LCI Industries in a research report on Friday, October 31st. They issued a “buy” rating and a $116.00 price objective on the stock. Robert W. Baird raised their target price on shares of LCI Industries from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. BMO Capital Markets upgraded shares of LCI Industries from an “underperform” rating to a “market perform” rating and set a $110.00 price target on the stock in a research note on Monday, November 3rd. Finally, Roth Capital increased their price target on shares of LCI Industries from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, LCI Industries has a consensus rating of “Hold” and a consensus price target of $113.67.

LCI Industries Profile

LCI Industries is a publicly traded manufacturer specializing in engineered components and systems for the recreation vehicle (RV), marine and housing industries. The company develops and supplies a diverse range of products designed to enhance comfort, convenience and functionality in mobile and leisure applications. LCI Industries serves original equipment manufacturers (OEMs) and aftermarket customers throughout North America.

The company’s core offerings include power conversion and control systems, slideout mechanisms, entry and docking products, seating and furniture solutions, as well as window and door assemblies.