LCI Industries (NYSE:LCII) Stake Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its position in shares of LCI Industries (NYSE:LCII - Free Report) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,241 shares of the company's stock after selling 5,252 shares during the quarter. Envestnet Asset Management Inc. owned 0.44% of LCI Industries worth $9,638,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LCII. Teacher Retirement System of Texas increased its position in LCI Industries by 136.5% in the first quarter. Teacher Retirement System of Texas now owns 9,503 shares of the company's stock worth $831,000 after buying an additional 5,484 shares during the period. Illinois Municipal Retirement Fund increased its position in LCI Industries by 4.4% in the first quarter. Illinois Municipal Retirement Fund now owns 14,539 shares of the company's stock worth $1,271,000 after buying an additional 618 shares during the period. Conestoga Capital Advisors LLC increased its position in LCI Industries by 7.2% in the first quarter. Conestoga Capital Advisors LLC now owns 177,716 shares of the company's stock worth $15,538,000 after buying an additional 12,000 shares during the period. Wesbanco Bank Inc. increased its position in LCI Industries by 12.2% in the first quarter. Wesbanco Bank Inc. now owns 3,043 shares of the company's stock worth $266,000 after buying an additional 330 shares during the period. Finally, Impact Capital Partners LLC increased its position in LCI Industries by 19.4% in the first quarter. Impact Capital Partners LLC now owns 4,256 shares of the company's stock worth $372,000 after buying an additional 691 shares during the period. 99.71% of the stock is currently owned by institutional investors.

LCI Industries Price Performance

NYSE:LCII opened at $97.16 on Monday. The business's 50-day moving average price is $91.92 and its 200 day moving average price is $93.11. The firm has a market cap of $2.45 billion, a P/E ratio of 15.93 and a beta of 1.26. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38. The company has a quick ratio of 1.41, a current ratio of 2.96 and a debt-to-equity ratio of 0.68.

LCI Industries (NYSE:LCII - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.64. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $972.04 million. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. LCI Industries's revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.44 earnings per share. As a group, sell-side analysts predict that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries declared that its board has authorized a share buyback plan on Thursday, May 15th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

LCI Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors 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 currently 75.41%.

Analyst Ratings Changes

Several equities research analysts have weighed in on LCII shares. Wall Street Zen raised LCI Industries from a "hold" rating to a "buy" rating in a research report on Monday, July 14th. Baird R W lowered LCI Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Truist Financial raised their price target on LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a report on Tuesday, June 3rd. Finally, 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $114.50.

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.

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