LCI Industries $LCII Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP lessened its stake in shares of LCI Industries (NYSE:LCII - Free Report) by 10.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,526 shares of the company's stock after selling 22,644 shares during the quarter. ARGA Investment Management LP owned approximately 0.80% of LCI Industries worth $16,192,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LCII. Bank of New York Mellon Corp purchased a new position in LCI Industries during the 2nd quarter worth $45,200,000. Bank of America Corp DE purchased a new stake in LCI Industries in the second quarter valued at about $40,408,000. Principal Financial Group Inc. boosted its holdings in LCI Industries by 36.7% in the first quarter. Principal Financial Group Inc. now owns 655,917 shares of the company's stock worth $80,666,000 after acquiring an additional 176,101 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in LCI Industries in the second quarter worth about $15,105,000. Finally, Amundi acquired a new stake in LCI Industries in the first quarter worth about $15,843,000. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

LCI Industries Trading Down 0.1%

LCII stock opened at $101.95 on Wednesday. LCI Industries has a 52-week low of $77.58 and a 52-week high of $159.66. The company has a quick ratio of 1.20, a current ratio of 2.49 and a debt-to-equity ratio of 0.59. The firm has a market cap of $2.48 billion, a P/E ratio of 11.85 and a beta of 1.19. The company's 50-day simple moving average is $89.77 and its 200-day simple moving average is $111.28.

LCI Industries (NYSE:LCII - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.12. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. LCI Industries had a return on equity of 14.33% and a net margin of 5.24%. LCI Industries's revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.39 EPS. As a group, equities analysts forecast that LCI Industries will post 8.33 EPS for the current fiscal year.

LCI Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were paid a $1.15 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $4.60 dividend on an annualized basis and a yield of 4.5%. LCI Industries's dividend payout ratio (DPR) is currently 53.49%.

Wall Street Analyst Weigh In

LCII has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a "hold" rating and set a $120.00 price objective on shares of LCI Industries in a report on Thursday, August 6th. Truist Financial reduced their target price on LCI Industries from $114.00 to $85.00 and set a "hold" rating for the company in a research note on Friday, October 23rd. Zacks Research raised LCI Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, October 9th. BMO Capital Markets set a $118.00 price target on LCI Industries in a research note on Thursday, August 6th. Finally, Robert W. Baird set a $119.00 price target on LCI Industries in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, LCI Industries has a consensus rating of "Hold" and a consensus target price of $113.50.

LCI Industries Company Profile

LCI Industries, formerly known as Drew Industries, is a manufacturer and supplier of components and systems used primarily in recreational vehicles (RVs), as well as in the marine, powersports, automotive, and other transportation markets. Through its Lippert business, the company provides products to original equipment manufacturers and serves consumers through replacement and aftermarket channels.

Its product portfolio includes chassis and structural components, axles and suspension systems, slide-out systems, windows, doors, entry steps, awnings, leveling systems, furniture, mattresses, appliances, electronics, and plumbing products.

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