Sovereign s Capital Management LLC Invests $3.15 Million in LCI Industries (NYSE:LCII)

Sovereign s Capital Management LLC acquired a new position in LCI Industries (NYSE:LCII - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 30,484 shares of the company's stock, valued at approximately $3,152,000. LCI Industries accounts for about 2.0% of Sovereign s Capital Management LLC's portfolio, making the stock its 19th largest holding. Sovereign s Capital Management LLC owned about 0.12% of LCI Industries at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Strategic Financial Concepts LLC acquired a new position in shares of LCI Industries in the fourth quarter worth about $28,000. Smartleaf Asset Management LLC raised its position in shares of LCI Industries by 205.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 367 shares of the company's stock worth $37,000 after acquiring an additional 247 shares during the period. LRI Investments LLC raised its position in shares of LCI Industries by 345.6% in the fourth quarter. LRI Investments LLC now owns 401 shares of the company's stock worth $41,000 after acquiring an additional 311 shares during the period. Headlands Technologies LLC acquired a new position in shares of LCI Industries in the fourth quarter worth about $59,000. Finally, Blue Trust Inc. raised its position in shares of LCI Industries by 60.2% in the fourth quarter. Blue Trust Inc. now owns 623 shares of the company's stock worth $64,000 after acquiring an additional 234 shares during the period. Institutional investors and hedge funds own 99.71% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on LCII. Robert W. Baird reduced their price target on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Wall Street Zen downgraded shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Tuesday. CJS Securities upgraded shares of LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 price target for the company in a research report on Wednesday, February 12th. Baird R W downgraded shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Truist Financial reduced 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 report on Monday, April 14th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $112.50.

LCI Industries Price Performance

LCII stock traded down $1.42 during mid-day trading on Friday, reaching $87.42. The company's stock had a trading volume of 245,949 shares, compared to its average volume of 308,144. The stock has a market cap of $2.21 billion, a PE ratio of 15.61 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. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38. The company's 50 day moving average is $83.50 and its two-hundred day moving average is $99.24.

LCI Industries (NYSE:LCII - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.64. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $972.04 million. LCI Industries had a net margin of 3.82% and a return on equity of 10.28%. LCI Industries's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 EPS. Equities research analysts expect that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $4.60 dividend on an annualized basis and a yield of 5.26%. LCI Industries's payout ratio is 75.41%.

LCI Industries announced that its board has approved a share buyback plan on Thursday, May 15th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase plans 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.