Charles Schwab Investment Management Inc. Purchases 12,735 Shares of LCI Industries $LCII

Charles Schwab Investment Management Inc. grew its stake in shares of LCI Industries (NYSE:LCII - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 449,158 shares of the company's stock after acquiring an additional 12,735 shares during the period. Charles Schwab Investment Management Inc. owned about 1.78% of LCI Industries worth $39,270,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in LCI Industries by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company's stock worth $127,904,000 after acquiring an additional 87,764 shares during the period. Victory Capital Management Inc. raised its stake in LCI Industries by 9.3% during the first quarter. Victory Capital Management Inc. now owns 695,508 shares of the company's stock worth $60,808,000 after acquiring an additional 59,233 shares during the period. Royce & Associates LP raised its stake in 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 acquiring an additional 34,967 shares during the period. Northern Trust Corp raised its stake in LCI Industries by 12.9% during the fourth quarter. Northern Trust Corp now owns 319,742 shares of the company's stock worth $33,058,000 after acquiring an additional 36,505 shares during the period. Finally, Frontier Capital Management Co. LLC raised its stake in LCI Industries by 5.6% during the fourth quarter. Frontier Capital Management Co. LLC now owns 292,028 shares of the company's stock worth $30,193,000 after acquiring an additional 15,408 shares during the period. 99.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

LCI Industries Price Performance

Shares of NYSE LCII traded up $5.7420 during midday trading on Friday, reaching $107.3520. The company's stock had a trading volume of 63,189 shares, compared to its average volume of 388,349. The company has a current ratio of 2.80, a quick ratio of 1.34 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average price of $96.63 and a 200 day moving average price of $92.36. LCI Industries has a one year low of $72.31 and a one year high of $129.38. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 17.85 and a beta of 1.25.

LCI Industries (NYSE:LCII - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.39 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 for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $2.40 EPS. The business's revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts expect that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, August 29th. LCI Industries's dividend payout ratio is 76.79%.

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

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.