LCI Industries (NYSE:LCII) Stock Holdings Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of LCI Industries (NYSE:LCII - Free Report) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 342,016 shares of the company's stock after selling 15,613 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.36% of LCI Industries worth $29,902,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in LCI Industries in the 4th quarter valued at about $26,402,000. Dimensional Fund Advisors LP increased its stake in shares of LCI Industries by 7.6% in the fourth 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 during the period. Vanguard Group Inc. increased its stake in shares of LCI Industries by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 2,913,270 shares of the company's stock valued at $301,203,000 after purchasing an additional 56,794 shares during the period. Stadium Capital Management LLC raised its holdings in shares of LCI Industries by 250.2% during the fourth quarter. Stadium Capital Management LLC now owns 70,069 shares of the company's stock valued at $7,244,000 after buying an additional 50,058 shares during the last quarter. Finally, Twinbeech Capital LP acquired a new position in shares of LCI Industries during the fourth quarter worth approximately $5,065,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LCII has been the topic of several analyst reports. Truist Financial raised their target price on LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a research report on Tuesday, June 3rd. Robert W. Baird lowered their price target on LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of LCI Industries from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Baird R W downgraded shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $114.50.

LCI Industries Price Performance

LCII traded down $0.75 during trading on Friday, reaching $97.16. The stock had a trading volume of 196,269 shares, compared to its average volume of 319,792. The stock has a 50 day moving average of $91.92 and a two-hundred day moving average of $93.24. The company has a quick ratio of 1.41, a current ratio of 2.96 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 15.93 and a beta of 1.26. LCI Industries has a 1-year low of $72.31 and a 1-year high of $129.38.

LCI Industries (NYSE:LCII - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.64. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $972.04 million. During the same quarter in the prior year, the firm posted $1.44 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. As a group, equities analysts anticipate that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries announced that its board has approved a share repurchase program on Thursday, May 15th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 13.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

LCI Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Friday, May 30th. LCI Industries's payout ratio is 75.41%.

LCI Industries 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.