Cetera Investment Advisers Sells 157,854 Shares of LCI Industries $LCII

Key Points

• Cetera Investment Advisers has significantly reduced its stake in LCI Industries, now holding only 3,412 shares worth $298,000 after selling 157,854 shares in the first quarter.
• Analysts are mixed on LCI Industries with one "Buy," four "Hold," and one "Sell" rating, with an average price target set at $103.25.
• LCI Industries announced a quarterly dividend of $1.15 per share and initiated a stock buyback plan allowing the repurchase of up to $300 million in shares.

Cetera Investment Advisers trimmed its holdings in LCI Industries (NYSE:LCII - Free Report) by 97.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,412 shares of the company's stock after selling 157,854 shares during the period. Cetera Investment Advisers' holdings in LCI Industries were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Apollon Wealth Management LLC lifted its holdings in shares of LCI Industries by 6.1% in the first quarter. Apollon Wealth Management LLC now owns 3,640 shares of the company's stock worth $318,000 after acquiring an additional 208 shares during the last quarter. LRI Investments LLC lifted its holdings in shares of LCI Industries by 345.6% in the fourth quarter. LRI Investments LLC now owns 401 shares of the company's stock worth $41,000 after acquiring an additional 311 shares during the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of LCI Industries by 12.2% in the first 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 last quarter. South Dakota Investment Council grew its stake in shares of LCI Industries by 1.5% during the first quarter. South Dakota Investment Council now owns 27,295 shares of the company's stock worth $2,386,000 after buying an additional 400 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of LCI Industries by 535.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company's stock worth $46,000 after buying an additional 439 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded LCI Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Truist Financial lifted their price target on LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. Robert W. Baird reduced their price target on LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, BMO Capital Markets raised their price objective on shares of LCI Industries from $80.00 to $85.00 and gave the company an "underperform" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $103.25.

LCI Industries Trading Up 5.7%

LCII stock traded up $5.8370 during trading on Friday, hitting $107.4470. The company had a trading volume of 397,400 shares, compared to its average volume of 335,296. The stock has a market cap of $2.60 billion, a PE ratio of 17.94 and a beta of 1.25. The business has a 50-day moving average of $97.02 and a 200-day moving average of $92.32. The company has a current ratio of 2.80, a quick ratio of 1.34 and a debt-to-equity ratio of 0.68. LCI Industries has a one year low of $72.31 and a one year high of $129.38.

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

LCI Industries Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 4.3%. LCI Industries's dividend payout ratio is 76.79%.

LCI Industries declared that its board has authorized a stock buyback program on Thursday, May 15th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to purchase up to 13.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is 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.