LCI Industries $LCII Holdings Cut by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in LCI Industries by 1.2%, owning 2,209,260 shares worth approximately $193 million as per its recent SEC filing.
• LCI Industries reported an earnings per share (EPS) of $2.39 for the last quarter, exceeding expectations, and had a 5.1% year-over-year revenue increase to $1.11 billion.
• The company announced a quarterly dividend of $1.15, with a dividend yield of 4.3% and a payout ratio of 76.79%, payable to shareholders on September 12th.

Kayne Anderson Rudnick Investment Management LLC lessened its stake in LCI Industries (NYSE:LCII - Free Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,209,260 shares of the company's stock after selling 25,894 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 8.75% of LCI Industries worth $193,156,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SVB Wealth LLC purchased a new stake in LCI Industries in the 1st quarter valued at approximately $28,000. LRI Investments LLC lifted its position in shares of LCI Industries by 345.6% during the 4th quarter. LRI Investments LLC now owns 401 shares of the company's stock valued at $41,000 after acquiring an additional 311 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of LCI Industries by 535.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company's stock worth $46,000 after acquiring an additional 439 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in LCI Industries by 45.5% during the first quarter. Smartleaf Asset Management LLC now owns 534 shares of the company's stock worth $47,000 after purchasing an additional 167 shares in the last quarter. Finally, SouthState Corp grew its holdings in LCI Industries by 4,483.3% in the first quarter. SouthState Corp now owns 550 shares of the company's stock valued at $48,000 after purchasing an additional 538 shares during the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

LCI Industries Stock Down 1.5%

Shares of NYSE LCII traded down $1.60 on Thursday, hitting $106.38. The company had a trading volume of 165,149 shares, compared to its average volume of 385,889. The firm has a market capitalization of $2.58 billion, a P/E ratio of 17.76 and a beta of 1.25. LCI Industries has a 12-month low of $72.31 and a 12-month high of $129.38. The business has a 50 day moving average of $98.12 and a two-hundred day moving average of $92.52. The company has a quick ratio of 1.34, a current ratio of 2.80 and a debt-to-equity ratio of 0.68.

LCI Industries (NYSE:LCII - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.22 by $0.17. LCI Industries had a net margin of 3.93% and a return on equity of 11.57%. The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the company posted $2.40 earnings per share. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 15th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

LCI Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.60 annualized dividend and a yield of 4.3%. LCI Industries's dividend payout ratio is currently 76.79%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen downgraded LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Robert W. Baird reduced their target price on LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Truist Financial upped their price objective on shares of LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. Finally, BMO Capital Markets increased their price objective on shares of LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $103.25.

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.