Kayne Anderson Rudnick Investment Management LLC Trims Position in LCI Industries (NYSE:LCII)

Kayne Anderson Rudnick Investment Management LLC cut its position in shares of LCI Industries (NYSE:LCII - Free Report) by 7.4% during the 4th quarter, according to its most recent disclosure 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 about 8.78% of LCI Industries worth $231,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in LCII. Nisa Investment Advisors LLC boosted its position in shares of LCI Industries by 10.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 16,142 shares of the company's stock valued at $1,669,000 after purchasing an additional 1,561 shares in the last quarter. Blue Trust Inc. raised its stake in LCI Industries by 60.2% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the company's stock valued at $64,000 after buying an additional 234 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in LCI Industries by 1.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 165,716 shares of the company's stock valued at $17,133,000 after buying an additional 2,710 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in LCI Industries during the fourth quarter valued at $28,000. Finally, Apollon Wealth Management LLC raised its stake in LCI Industries by 15.5% during the fourth quarter. Apollon Wealth Management LLC now owns 3,432 shares of the company's stock valued at $355,000 after buying an additional 461 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

LCI Industries Stock Down 1.2%

Shares of LCII stock traded down $1.10 during mid-day trading on Wednesday, hitting $88.57. The company's stock had a trading volume of 203,918 shares, compared to its average volume of 308,539. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38. The business has a 50-day moving average price of $83.51 and a 200 day moving average price of $98.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 2.82. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 15.82 and a beta of 1.26.

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

LCI Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Friday, May 30th. LCI Industries's dividend payout ratio (DPR) is presently 75.41%.

LCI Industries announced that its board 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 reacquire up to 13.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board believes its shares are undervalued.

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.