Ameriprise Financial Inc. Purchases 3,349 Shares of LCI Industries (NYSE:LCII)

Ameriprise Financial Inc. raised its position in shares of LCI Industries (NYSE:LCII - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,356 shares of the company's stock after purchasing an additional 3,349 shares during the period. Ameriprise Financial Inc. owned about 0.44% of LCI Industries worth $11,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of LCI Industries by 205.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 367 shares of the company's stock valued at $37,000 after acquiring an additional 247 shares in the last quarter. Headlands Technologies LLC acquired a new stake in LCI Industries during the fourth quarter valued at $59,000. Blue Trust Inc. increased its stake in shares of LCI Industries by 60.2% in the 4th quarter. Blue Trust Inc. now owns 623 shares of the company's stock valued at $64,000 after purchasing an additional 234 shares in the last quarter. Covestor Ltd raised its stake in shares of LCI Industries by 159.3% during the 4th quarter. Covestor Ltd now owns 765 shares of the company's stock worth $79,000 after buying an additional 470 shares during the period. Finally, Lido Advisors LLC acquired a new position in LCI Industries during the fourth quarter worth $201,000. Hedge funds and other institutional investors own 99.71% of the company's stock.

LCI Industries Stock Down 1.2%

Shares of LCI Industries stock traded down $1.04 during trading on Friday, reaching $87.81. The company had a trading volume of 67,577 shares, compared to its average volume of 307,225. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38. The firm's fifty day moving average is $83.51 and its 200-day moving average is $99.43. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 2.82. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 15.68 and a beta of 1.26.

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

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

LCI Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 annualized dividend and a yield of 5.24%. LCI Industries's dividend payout ratio (DPR) is presently 75.41%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Baird R W lowered shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a research note on Tuesday. 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 note on Wednesday, May 7th. CJS Securities upgraded LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 price objective on the stock in a report on Wednesday, February 12th. Finally, 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 research note on Monday, April 14th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $112.50.

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.