Millennium Management LLC reduced its stake in shares of LCI Industries (NYSE:LCII) by 86.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,041 shares of the company’s stock after selling 19,274 shares during the quarter. Millennium Management LLC’s holdings in LCI Industries were worth $317,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC acquired a new stake in shares of LCI Industries during the first quarter worth $254,000. LPL Financial LLC raised its holdings in shares of LCI Industries by 118.0% during the first quarter. LPL Financial LLC now owns 12,157 shares of the company’s stock worth $1,261,000 after acquiring an additional 6,581 shares during the period. A.R.T. Advisors LLC acquired a new stake in shares of LCI Industries during the first quarter worth $1,154,000. UBS Group AG raised its holdings in shares of LCI Industries by 217.8% during the first quarter. UBS Group AG now owns 15,336 shares of the company’s stock worth $1,597,000 after acquiring an additional 10,511 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in shares of LCI Industries by 18.8% during the first quarter. Westwood Holdings Group Inc. now owns 11,525 shares of the company’s stock worth $1,200,000 after acquiring an additional 1,825 shares during the period. 92.84% of the stock is currently owned by institutional investors and hedge funds.
In other LCI Industries news, CEO Jason Lippert bought 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 4th. The stock was acquired at an average price of $83.83 per share, with a total value of $502,980.00. Following the completion of the transaction, the chief executive officer now owns 213,022 shares in the company, valued at $17,857,634.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Scott T. Mereness bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The stock was acquired at an average cost of $85.00 per share, with a total value of $340,000.00. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by company insiders.
A number of equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of LCI Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Northcoast Research restated a “buy” rating on shares of LCI Industries in a report on Friday. ValuEngine upgraded shares of LCI Industries from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Robert W. Baird restated a “buy” rating and set a $115.00 price objective on shares of LCI Industries in a report on Wednesday, July 25th. Finally, Citigroup dropped their price objective on shares of LCI Industries from $131.00 to $112.00 and set a “buy” rating on the stock in a report on Tuesday, June 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $113.75.
LCI Industries stock opened at $94.35 on Friday. The firm has a market capitalization of $2.47 billion, a P/E ratio of 16.38 and a beta of 1.04. LCI Industries has a 1-year low of $80.95 and a 1-year high of $132.73. The company has a quick ratio of 1.11, a current ratio of 2.70 and a debt-to-equity ratio of 0.30.
LCI Industries (NYSE:LCII) last released its earnings results on Thursday, August 2nd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $684.46 million during the quarter, compared to the consensus estimate of $658.81 million. LCI Industries had a net margin of 5.92% and a return on equity of 23.39%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.59 earnings per share. research analysts anticipate that LCI Industries will post 6.78 earnings per share for the current year.
LCI Industries Profile
LCI Industries, along with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures or distributes various components for the OEMs of RVs and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; travel trailers, fifth-wheel travel trailers, folding camping trailers, and truck campers; trucks; pontoon boats; trains; manufactured homes; and modular housing.
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