Kayne Anderson Rudnick Investment Management LLC Sells 179,743 Shares of LCI Industries (NYSE:LCII)

Kayne Anderson Rudnick Investment Management LLC lowered its stake in shares of LCI Industries (NYSE:LCII - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in LCI Industries by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 436,423 shares of the company's stock valued at $45,122,000 after buying an additional 25,145 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of LCI Industries by 1.8% in the 4th quarter. Principal Financial Group Inc. now owns 643,507 shares of the company's stock worth $66,536,000 after acquiring an additional 11,286 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of LCI Industries in the 4th quarter valued at approximately $266,000. Smartleaf Asset Management LLC raised its position in shares of LCI Industries by 205.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 367 shares of the company's stock valued at $37,000 after acquiring an additional 247 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in LCI Industries by 10.1% during the fourth quarter. Congress Asset Management Co. now owns 57,565 shares of the company's stock worth $5,952,000 after purchasing an additional 5,303 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on LCII. 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. CJS Securities raised LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 target price on the stock in a report on Wednesday, February 12th. Robert W. Baird decreased their price target 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. Baird R W downgraded shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Wall Street Zen lowered LCI Industries from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $112.50.

LCI Industries Stock Performance

LCII stock traded down $0.11 on Thursday, reaching $88.38. 165,223 shares of the company were exchanged, compared to its average volume of 307,968. The firm has a market capitalization of $2.23 billion, a PE ratio of 15.78 and a beta of 1.26. LCI Industries has a 12 month low of $72.31 and a 12 month high of $129.38. The stock's fifty day moving average price is $83.51 and its 200 day moving average price is $98.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.82 and a quick ratio of 1.03.

LCI Industries (NYSE:LCII - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.64. LCI Industries had a net margin of 3.82% and a return on equity of 10.28%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $972.04 million. During the same quarter in the previous year, the firm posted $1.44 EPS. The business's revenue was up 8.0% compared to the same quarter last year. On average, research analysts anticipate 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. Stockholders of record on Friday, May 30th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend is Friday, May 30th. LCI Industries's payout ratio is presently 75.41%.

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