Vanguard Group Inc. Sells 57,302 Shares of LCI Industries $LCII

Key Points

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Vanguard Group Inc. cut its position in shares of LCI Industries (NYSE:LCII - Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,855,968 shares of the company's stock after selling 57,302 shares during the quarter. Vanguard Group Inc. owned approximately 11.32% of LCI Industries worth $249,697,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas increased its position in shares of LCI Industries by 136.5% during the 1st quarter. Teacher Retirement System of Texas now owns 9,503 shares of the company's stock valued at $831,000 after purchasing an additional 5,484 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of LCI Industries by 12.7% during the 4th quarter. Nuveen Asset Management LLC now owns 96,725 shares of the company's stock valued at $10,000,000 after purchasing an additional 10,924 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of LCI Industries by 17.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,145 shares of the company's stock valued at $7,149,000 after purchasing an additional 10,498 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of LCI Industries by 16.0% during the 1st quarter. Allianz Asset Management GmbH now owns 20,347 shares of the company's stock valued at $1,779,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in shares of LCI Industries by 5.6% during the 4th quarter. Frontier Capital Management Co. LLC now owns 292,028 shares of the company's stock valued at $30,193,000 after purchasing an additional 15,408 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. BMO Capital Markets increased their price objective on LCI Industries from $80.00 to $85.00 and gave the company an "underperform" rating in a research report on Wednesday, August 6th. Robert W. Baird reduced their price objective 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. Wall Street Zen lowered LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Truist Financial raised their price target on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $103.25.

LCI Industries Trading Up 5.7%

NYSE LCII traded up $5.8370 on Friday, hitting $107.4470. The company's stock had a trading volume of 397,400 shares, compared to its average volume of 335,296. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38. The company has a current ratio of 2.80, a quick ratio of 1.34 and a debt-to-equity ratio of 0.68. The company's 50-day simple moving average is $97.02 and its 200 day simple moving average is $92.32. The firm has a market cap of $2.60 billion, a P/E ratio of 17.94 and a beta of 1.25.

LCI Industries (NYSE:LCII - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.17. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%.The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the business posted $2.40 EPS. The business's revenue was up 5.1% on a year-over-year basis. Research analysts predict that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a $1.15 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.60 annualized dividend and a yield of 4.3%. LCI Industries's dividend payout ratio (DPR) is 76.79%.

LCI Industries declared that its board 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 buy up to 13.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership 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.