LCI Industries (NYSE:LCII) Position Reduced by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in LCI Industries (NYSE:LCII - Free Report) by 7.4% in the 4th 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 period. 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.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in LCI Industries during the 4th quarter worth approximately $26,402,000. Royce & Associates LP grew its position in LCI Industries by 46.1% during the 4th quarter. Royce & Associates LP now owns 546,623 shares of the company's stock worth $56,515,000 after purchasing an additional 172,586 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in LCI Industries by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company's stock valued at $127,904,000 after purchasing an additional 87,764 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of LCI Industries by 29.2% during the fourth quarter. Bank of New York Mellon Corp now owns 357,629 shares of the company's stock worth $36,975,000 after buying an additional 80,784 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in LCI Industries by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 2,913,270 shares of the company's stock valued at $301,203,000 after acquiring an additional 56,794 shares during the period. Hedge funds and other institutional investors own 99.71% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial cut their price target 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 upgraded shares of LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 target price on the stock in a research report on Wednesday, February 12th. Baird R W cut shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Robert W. Baird reduced their price target on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut LCI Industries from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $112.50.

LCI Industries Price Performance

LCI Industries stock traded up $0.17 during mid-day trading on Friday, hitting $87.42. 74,296 shares of the company were exchanged, compared to its average volume of 307,674. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.82 and a quick ratio of 1.03. The company has a market capitalization of $2.21 billion, a P/E ratio of 15.59 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 business's 50 day simple moving average is $83.47 and its two-hundred day simple moving average is $98.46.

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

LCI Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $4.60 annualized dividend and a dividend yield of 5.26%. LCI Industries's payout ratio is 75.41%.

LCI Industries declared that its board has initiated a stock buyback program on Thursday, May 15th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board 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.