KBC Group NV Sells 200,000 Shares of LCI Industries (NYSE:LCII)

KBC Group NV lowered its stake in shares of LCI Industries (NYSE:LCII - Free Report) by 99.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,119 shares of the company's stock after selling 200,000 shares during the quarter. KBC Group NV's holdings in LCI Industries were worth $98,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LCII. Norges Bank acquired a new stake in LCI Industries during the fourth quarter worth approximately $26,402,000. Royce & Associates LP grew its position in LCI Industries by 46.1% during the fourth quarter. Royce & Associates LP now owns 546,623 shares of the company's stock worth $56,515,000 after buying an additional 172,586 shares in the last quarter. Dimensional Fund Advisors LP grew its position 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 buying an additional 87,764 shares in the last quarter. Vanguard Group Inc. lifted its stake in LCI Industries by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,913,270 shares of the company's stock worth $301,203,000 after purchasing an additional 56,794 shares during the last quarter. Finally, Stadium Capital Management LLC lifted its stake in LCI Industries by 250.2% during the fourth quarter. Stadium Capital Management LLC now owns 70,069 shares of the company's stock worth $7,244,000 after purchasing an additional 50,058 shares during the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on LCII. Robert W. Baird lowered their price target on LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Baird R W downgraded LCI Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Truist Financial upped their price objective on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. Finally, Wall Street Zen downgraded LCI Industries from a "buy" rating to a "hold" rating in a research report on Sunday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $114.50.

LCI Industries Price Performance

Shares of LCII traded up $2.32 during trading hours on Tuesday, reaching $98.57. The stock had a trading volume of 293,950 shares, compared to its average volume of 408,707. LCI Industries has a 12 month low of $72.31 and a 12 month high of $129.38. The stock has a market capitalization of $2.49 billion, a PE ratio of 16.16 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 2.96. The company's 50-day moving average is $88.77 and its two-hundred day moving average is $93.38.

LCI Industries (NYSE:LCII - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.64. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $972.04 million. During the same period in the prior year, the company earned $1.44 EPS. LCI Industries's revenue was up 8.0% compared to the same quarter last year. Research analysts expect that LCI Industries will post 6.76 EPS for the current year.

LCI Industries declared that its Board of Directors has approved a share buyback 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 often a sign that the company's board believes its shares are undervalued.

LCI Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend was Friday, May 30th. LCI Industries's payout ratio is 75.41%.

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.