Royce & Associates LP Boosts Stock Position in LCI Industries (NYSE:LCII)

Royce & Associates LP boosted its stake in LCI Industries (NYSE:LCII - Free Report) by 6.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 581,590 shares of the company's stock after acquiring an additional 34,967 shares during the quarter. LCI Industries accounts for about 0.6% of Royce & Associates LP's portfolio, making the stock its 28th biggest holding. Royce & Associates LP owned 2.30% of LCI Industries worth $50,848,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LCII. Teacher Retirement System of Texas boosted its position in shares of 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 acquiring an additional 5,484 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of LCI Industries by 12.7% during the fourth quarter. Nuveen Asset Management LLC now owns 96,725 shares of the company's stock worth $10,000,000 after buying an additional 10,924 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in LCI Industries by 17.9% in 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 valued at $7,149,000 after purchasing an additional 10,498 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in LCI Industries in the fourth quarter valued at approximately $558,000. Finally, Frontier Capital Management Co. LLC boosted its holdings 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 purchasing an additional 15,408 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Robert W. Baird decreased their price objective on LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Wall Street Zen upgraded LCI Industries from a "hold" rating to a "buy" rating in a research note on Monday, July 14th. Truist Financial upped their price target on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Finally, Baird R W cut LCI Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $114.50.

LCI Industries Price Performance

Shares of LCII stock traded down $0.54 during mid-day trading on Monday, reaching $98.74. The stock had a trading volume of 340,830 shares, compared to its average volume of 396,734. LCI Industries has a 12-month low of $72.31 and a 12-month high of $129.38. The company has a market cap of $2.49 billion, a P/E ratio of 16.19 and a beta of 1.26. The business has a 50-day simple moving average of $92.84 and a 200 day simple moving average of $92.97. The company has a current ratio of 2.96, a quick ratio of 1.41 and a debt-to-equity ratio of 0.68.

LCI Industries (NYSE:LCII - Get Free Report) last announced its quarterly earnings results 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 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 analysts' expectations of $972.04 million. During the same quarter last year, the business posted $1.44 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Friday, May 30th. LCI Industries's payout ratio is currently 75.41%.

LCI Industries announced that its Board of Directors has initiated 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 shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are 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.