ARGA Investment Management LP Sells 166,526 Shares of LCI Industries $LCII

ARGA Investment Management LP reduced its stake in shares of LCI Industries (NYSE:LCII) by 39.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 257,848 shares of the company’s stock after selling 166,526 shares during the period. LCI Industries comprises approximately 0.6% of ARGA Investment Management LP’s portfolio, making the stock its 29th biggest position. ARGA Investment Management LP owned about 1.06% of LCI Industries worth $24,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas increased its stake in LCI Industries by 25.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 11,883 shares of the company’s stock worth $1,084,000 after acquiring an additional 2,380 shares during the last quarter. Nordea Investment Management AB raised its stake in LCI Industries by 2.0% during the second quarter. Nordea Investment Management AB now owns 22,807 shares of the company’s stock valued at $2,083,000 after purchasing an additional 438 shares in the last quarter. Timucuan Asset Management Inc. FL lifted its position in LCI Industries by 226.5% during the second quarter. Timucuan Asset Management Inc. FL now owns 35,318 shares of the company’s stock valued at $3,221,000 after purchasing an additional 24,500 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of LCI Industries by 129.0% in the 2nd quarter. GAMMA Investing LLC now owns 758 shares of the company’s stock worth $69,000 after buying an additional 427 shares in the last quarter. Finally, Inspire Advisors LLC bought a new stake in shares of LCI Industries in the 2nd quarter worth about $2,914,000. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on LCII. Wall Street Zen upgraded LCI Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LCI Industries in a research note on Wednesday, October 8th. Roth Mkm lifted their price objective 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. Truist Financial set a $147.00 price objective on LCI Industries in a report on Tuesday. Finally, Zacks Research downgraded LCI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $128.50.

LCI Industries Stock Down 1.9%

NYSE LCII opened at $147.06 on Friday. The company has a market cap of $3.56 billion, a P/E ratio of 20.57 and a beta of 1.31. LCI Industries has a one year low of $72.31 and a one year high of $151.85. The business has a fifty day moving average price of $123.09 and a 200 day moving average price of $107.15. 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 released its quarterly earnings data on Thursday, October 30th. The company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.53. LCI Industries had a net margin of 4.49% and a return on equity of 12.60%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $963.96 million. During the same quarter in the prior year, the firm earned $1.39 EPS. LCI Industries’s quarterly revenue was up 13.2% on a year-over-year basis. Research analysts anticipate that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a $1.15 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.1%. LCI Industries’s dividend payout ratio (DPR) is 64.34%.

About LCI Industries

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.