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

Sovereign s Capital Management LLC bought a new position in LCI Industries (NYSE:LCII - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 30,484 shares of the company's stock, valued at approximately $3,152,000. LCI Industries makes up 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 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Twinbeech Capital LP purchased a new stake in LCI Industries during the fourth quarter valued at about $5,065,000. Tidal Investments LLC boosted its position in LCI Industries by 4.8% during the fourth quarter. Tidal Investments LLC now owns 9,853 shares of the company's stock valued at $1,019,000 after buying an additional 451 shares during the period. Stadium Capital Management LLC boosted its holdings in shares of LCI Industries by 250.2% during the fourth quarter. Stadium Capital Management LLC now owns 70,069 shares of the company's stock worth $7,244,000 after purchasing an additional 50,058 shares during the period. ProShare Advisors LLC boosted its holdings in shares of LCI Industries by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 7,489 shares of the company's stock worth $774,000 after purchasing an additional 2,302 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings 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 purchasing an additional 10,924 shares during the period. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LCII has been the subject of a number of analyst reports. Truist Financial dropped their target price on shares of LCI Industries from $108.00 to $80.00 and set a "hold" rating for the company in a report on Monday, April 14th. CJS Securities upgraded shares of LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 target price for the company in a report on Wednesday, February 12th. Robert W. Baird dropped their target price on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Baird R W lowered shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, LCI Industries presently has a consensus rating of "Hold" and an average target price of $112.50.

LCI Industries Trading Up 0.0%

LCII stock traded up $0.01 during trading on Thursday, reaching $88.78. The company had a trading volume of 282,699 shares, compared to its average volume of 308,141. LCI Industries has a 52 week low of $72.31 and a 52 week high of $129.38. The company has a market cap of $2.24 billion, a P/E ratio of 15.85 and a beta of 1.26. The business has a 50 day moving average of $83.51 and a 200 day moving average of $99.43. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.82 and a quick ratio of 1.03.

LCI Industries (NYSE:LCII - Get Free Report) last released its quarterly 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. LCI Industries had a net margin of 3.82% and a return on equity of 10.28%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $972.04 million. During the same period in the prior year, the firm earned $1.44 earnings per share. LCI Industries's revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts forecast that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend is Friday, May 30th. LCI Industries's dividend payout ratio is currently 75.41%.

LCI Industries announced that its Board of Directors has initiated a stock buyback program on Thursday, May 15th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its stock is undervalued.

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.