LCI Industries $LCII Stake Trimmed by Conestoga Capital Advisors LLC

Key Points

• Conestoga Capital Advisors cut its LCI Industries stake by 12.4% in the third quarter, selling 21,290 shares; it retained 150,453 shares valued at about $12.6 million. Institutional investors collectively own 99.71% of the stock.
• LCI reported quarterly EPS of $2.70, topping estimates of $2.58, but revenue fell 12.6% year over year to $1.10 billion and missed expectations.
• Analysts’ consensus rating is Hold, with an average price target of $113.50. The company’s annualized dividend is $4.60 per share, a stated yield of 4.4%.

Conestoga Capital Advisors LLC reduced its holdings in LCI Industries (NYSE:LCII - Free Report) by 12.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 150,453 shares of the company's stock after selling 21,290 shares during the quarter. Conestoga Capital Advisors LLC owned about 0.62% of LCI Industries worth $12,588,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in LCII. Covestor Ltd boosted its holdings in LCI Industries by 76.2% in the third quarter. Covestor Ltd now owns 858 shares of the company's stock valued at $72,000 after acquiring an additional 371 shares in the last quarter. Provenance Wealth Advisors LLC bought a new position in LCI Industries in the 3rd quarter worth $113,000. ProShare Advisors LLC raised its holdings in LCI Industries by 96.4% in the 3rd quarter. ProShare Advisors LLC now owns 6,755 shares of the company's stock worth $565,000 after purchasing an additional 3,316 shares in the last quarter. Choreo LLC lifted its position in shares of LCI Industries by 4.0% in the 3rd quarter. Choreo LLC now owns 4,801 shares of the company's stock worth $402,000 after purchasing an additional 183 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. lifted its position in shares of LCI Industries by 83.1% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 780 shares of the company's stock worth $65,000 after purchasing an additional 354 shares during the period. 99.71% of the stock is owned by hedge funds and other institutional investors.

LCI Industries Stock Up 2.6%

NYSE:LCII opened at $104.47 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.49 and a quick ratio of 1.20. The firm's 50-day moving average price is $89.77 and its 200-day moving average price is $111.11. The company has a market capitalization of $2.54 billion, a PE ratio of 12.50 and a beta of 1.19. LCI Industries has a 1-year low of $77.58 and a 1-year high of $159.66.

LCI Industries (NYSE:LCII - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.58 by $0.12. LCI Industries had a net margin of 5.24% and a return on equity of 14.33%. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the company posted $2.39 EPS. LCI Industries's revenue was down 12.6% on a year-over-year basis. On average, equities analysts predict that LCI Industries will post 8.33 EPS for the current fiscal year.

LCI Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.4%. LCI Industries's dividend payout ratio (DPR) is currently 53.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LCII. Jefferies Financial Group reaffirmed a "hold" rating and set a $120.00 target price on shares of LCI Industries in a research note on Thursday, August 6th. Stifel Nicolaus cut LCI Industries from a "buy" rating to a "hold" rating and cut their price objective for the company from $130.00 to $80.00 in a research report on Sunday, October 18th. Zacks Research upgraded LCI Industries from a "strong sell" rating to a "hold" rating in a report on Friday, October 9th. Weiss Ratings lowered LCI Industries from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. Finally, Truist Financial lowered 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. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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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