LCI Industries (NYSE:LCII) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of LCI Industries (NYSE:LCII - Free Report) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 342,016 shares of the company's stock after selling 15,613 shares during the period. Bank of New York Mellon Corp owned about 1.36% of LCI Industries worth $29,902,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LCII. Teacher Retirement System of Texas raised its stake in 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 period. Nuveen Asset Management LLC raised its position in LCI Industries by 12.7% in the fourth quarter. Nuveen Asset Management LLC now owns 96,725 shares of the company's stock worth $10,000,000 after purchasing an additional 10,924 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of LCI Industries by 17.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,145 shares of the company's stock worth $7,149,000 after buying an additional 10,498 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of LCI Industries in the fourth quarter valued at approximately $558,000. Finally, Frontier Capital Management Co. LLC boosted its stake in LCI Industries by 5.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 292,028 shares of the company's stock valued at $30,193,000 after acquiring an additional 15,408 shares during the last quarter. Hedge funds and other institutional investors own 99.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LCII shares. 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. Truist Financial boosted their target price on shares of LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Wall Street Zen raised shares of LCI Industries from a "hold" rating to a "buy" rating in a research note on Monday, July 14th. Finally, Robert W. Baird dropped their price objective on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $114.50.

LCI Industries Stock Performance

NYSE:LCII traded down $0.75 during midday trading on Friday, hitting $97.16. The company's stock had a trading volume of 196,269 shares, compared to its average volume of 319,792. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38. The firm has a market cap of $2.45 billion, a P/E ratio of 15.93 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.96 and a quick ratio of 1.41. The firm's 50 day moving average is $91.92 and its 200-day moving average is $93.24.

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 (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.64. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $972.04 million. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 EPS. Equities analysts anticipate that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $1.15 per share. 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 announced that its Board of Directors has initiated a share buyback 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 often a sign that the company's board 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.