LCI Industries (NYSE:LCII) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its stake in shares of LCI Industries (NYSE:LCII - Free Report) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,356 shares of the company's stock after purchasing an additional 3,349 shares during the period. Ameriprise Financial Inc. owned 0.44% of LCI Industries worth $11,617,000 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. Norges Bank purchased a new stake in LCI Industries during the fourth quarter valued at about $26,402,000. Royce & Associates LP raised its holdings in shares of LCI Industries by 46.1% in the 4th quarter. Royce & Associates LP now owns 546,623 shares of the company's stock worth $56,515,000 after purchasing an additional 172,586 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of LCI Industries by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company's stock valued at $127,904,000 after purchasing an additional 87,764 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of LCI Industries by 29.2% during the 4th quarter. Bank of New York Mellon Corp now owns 357,629 shares of the company's stock worth $36,975,000 after purchasing an additional 80,784 shares during the period. Finally, Vanguard Group Inc. increased its position in LCI Industries by 2.0% during the 4th 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 in the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LCII has been the topic of several research reports. Truist Financial cut their price target on shares of LCI Industries from $108.00 to $80.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Tuesday. Baird R W downgraded shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Robert W. Baird decreased their price target on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, CJS Securities upgraded LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 price target for the company in a report on Wednesday, February 12th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, LCI Industries has a consensus rating of "Hold" and a consensus price target of $112.50.

LCI Industries Stock Down 1.6%

Shares of NYSE LCII traded down $1.42 during midday trading on Friday, reaching $87.42. 245,949 shares of the company's stock were exchanged, compared to its average volume of 308,885. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 2.82. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38. The business's fifty day moving average price is $83.50 and its two-hundred day moving average price is $99.10. The stock has a market capitalization of $2.21 billion, a PE ratio of 15.61 and a beta of 1.26.

LCI Industries (NYSE:LCII - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.64. LCI Industries had a return on equity of 10.28% and a net margin of 3.82%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $972.04 million. During the same quarter last year, the firm earned $1.44 EPS. LCI Industries's quarterly revenue was up 8.0% on a year-over-year basis. Analysts forecast that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 5.26%. LCI Industries's dividend payout ratio (DPR) is 75.41%.

LCI Industries declared that its Board of Directors has initiated a stock buyback program on Thursday, May 15th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 13.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

About LCI Industries

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.