LCI Industries (NYSE:LCII) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its stake in LCI Industries (NYSE:LCII - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,235,154 shares of the company's stock after selling 179,743 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 8.78% of LCI Industries worth $231,093,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LCII. Smartleaf Asset Management LLC boosted its stake in LCI Industries by 205.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 367 shares of the company's stock valued at $37,000 after buying an additional 247 shares during the last quarter. LRI Investments LLC lifted its stake in shares of LCI Industries by 345.6% during the 4th 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. Headlands Technologies LLC bought a new stake in shares of LCI Industries during the 4th quarter worth approximately $59,000. Blue Trust Inc. lifted its stake in shares of LCI Industries by 60.2% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the company's stock worth $64,000 after acquiring an additional 234 shares during the last quarter. Finally, Covestor Ltd increased its holdings in LCI Industries by 159.3% during the 4th quarter. Covestor Ltd now owns 765 shares of the company's stock worth $79,000 after purchasing an additional 470 shares during the period. Hedge funds and other institutional investors own 99.71% of the company's stock.

Analyst Ratings Changes

LCII has been the topic of several research reports. Robert W. Baird reduced their price objective on LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen downgraded LCI Industries from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Truist Financial lowered their price target on LCI Industries from $108.00 to $80.00 and set a "hold" rating for the company in a research report on Monday, April 14th. CJS Securities raised LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 price objective for the company in a report on Wednesday, February 12th. Finally, Baird R W cut LCI Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $112.50.

LCI Industries Stock Performance

Shares of LCII stock traded up $2.12 on Tuesday, hitting $89.57. The company had a trading volume of 193,354 shares, compared to its average volume of 308,423. The firm has a market cap of $2.26 billion, a P/E ratio of 15.99 and a beta of 1.26. The company has a 50-day moving average price of $83.50 and a 200-day moving average price of $98.72. The company has a quick ratio of 1.03, a current ratio of 2.82 and a debt-to-equity ratio of 0.55. LCI Industries has a twelve month low of $72.31 and a twelve month high of $129.38.

LCI Industries (NYSE:LCII - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.64. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $972.04 million. LCI Industries had a return on equity of 10.28% and a net margin of 3.82%. LCI Industries's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.44 earnings per share. As a group, equities research analysts predict that LCI Industries will post 6.76 earnings per share for the current fiscal year.

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

LCI Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 5.14%. LCI Industries's payout ratio is currently 75.41%.

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.