Millennium Management LLC Trims Stake in LCI Industries (NYSE:LCII)

Millennium Management LLC decreased its holdings in LCI Industries (NYSE:LCII - Free Report) by 99.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,162 shares of the company's stock after selling 28,506,881 shares during the quarter. Millennium Management LLC owned 0.43% of LCI Industries worth $11,286,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LCII. Summit Investment Advisors Inc. increased its stake in LCI Industries by 5.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,595 shares of the company's stock valued at $268,000 after buying an additional 130 shares during the last quarter. Keybank National Association OH increased its stake in LCI Industries by 7.1% in the 4th quarter. Keybank National Association OH now owns 3,049 shares of the company's stock valued at $315,000 after buying an additional 202 shares during the last quarter. Inspire Advisors LLC increased its stake in LCI Industries by 3.6% in the 4th quarter. Inspire Advisors LLC now owns 5,907 shares of the company's stock valued at $611,000 after buying an additional 206 shares during the last quarter. Blue Trust Inc. increased its stake in 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 buying an additional 234 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in LCI Industries by 11.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,263 shares of the company's stock valued at $234,000 after buying an additional 238 shares during the last quarter. Institutional investors own 99.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LCII shares. CJS Securities upgraded shares of LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 price objective for the company in a research note on Wednesday, February 12th. Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Truist Financial decreased their price target on shares of LCI Industries from $108.00 to $80.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Robert W. Baird lowered their price target on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Baird R W cut shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $112.50.

LCI Industries Stock Performance

Shares of NYSE:LCII traded down $0.15 during mid-day trading on Thursday, reaching $88.35. The company had a trading volume of 23,988 shares, compared to its average volume of 421,894. LCI Industries has a one year low of $72.31 and a one year high of $129.38. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 15.78 and a beta of 1.26. The company has a current ratio of 2.82, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The company's 50-day moving average price is $83.51 and its 200-day moving average price is $98.65.

LCI Industries (NYSE:LCII - Get Free Report) last released 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 net margin of 3.82% and a return on equity of 10.28%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $972.04 million. During the same period in the previous year, the business earned $1.44 EPS. LCI Industries's revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that LCI Industries will post 6.76 EPS for the current fiscal year.

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

LCI Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $1.15 dividend. The ex-dividend date is Friday, May 30th. This represents a $4.60 dividend on an annualized basis and a yield of 5.21%. LCI Industries's dividend 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.