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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in LCI Industries by 136.5% during the 1st quarter. Teacher Retirement System of Texas now owns 9,503 shares of the company's stock valued at $831,000 after purchasing an additional 5,484 shares during the period. Nuveen Asset Management LLC increased its position in LCI Industries by 12.7% during the 4th quarter. Nuveen Asset Management LLC now owns 96,725 shares of the company's stock valued at $10,000,000 after purchasing an additional 10,924 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in LCI Industries by 17.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,145 shares of the company's stock valued at $7,149,000 after purchasing an additional 10,498 shares during the period. Allianz Asset Management GmbH increased its position in LCI Industries by 16.0% during the 1st 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 period. Finally, Frontier Capital Management Co. LLC increased its position in LCI Industries by 5.6% during the 4th quarter. Frontier Capital Management Co. LLC now owns 292,028 shares of the company's stock valued at $30,193,000 after purchasing an additional 15,408 shares during the period. Institutional investors own 99.71% of the company's stock.

LCI Industries Price Performance

Shares of LCI Industries stock traded down $0.80 during trading hours on Tuesday, reaching $106.85. 288,526 shares of the company's stock were exchanged, compared to its average volume of 337,328. LCI Industries has a 1 year low of $72.31 and a 1 year high of $129.38. The company has a market capitalization of $2.59 billion, a P/E ratio of 17.84 and a beta of 1.25. The business has a fifty day moving average of $97.73 and a two-hundred day moving average of $92.41. The company has a quick ratio of 1.34, a current ratio of 2.80 and a debt-to-equity ratio of 0.68.

LCI Industries (NYSE:LCII - Get Free Report) last released its 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 business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $2.40 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts predict that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries announced that its Board of Directors has initiated a share buyback plan on Thursday, May 15th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

LCI Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be issued 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 dividend yield of 4.3%. LCI Industries's dividend payout ratio is presently 76.79%.

Analyst Ratings Changes

A number of research analysts have commented on LCII shares. BMO Capital Markets raised their target price on shares of LCI Industries from $80.00 to $85.00 and gave the company an "underperform" rating in a research report on Wednesday, August 6th. Truist Financial lifted their price objective on shares of LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. Robert W. Baird cut their price objective on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $103.25.

LCI Industries Company 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.