First Manhattan Co. lowered its position in shares of LCI Industries (NYSE:LCII) by 34.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,708 shares of the company’s stock after selling 9,930 shares during the quarter. First Manhattan Co. owned approximately 0.07% of LCI Industries worth $1,437,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its stake in LCI Industries by 39.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 542 shares of the company’s stock worth $36,000 after acquiring an additional 154 shares during the last quarter. Exane Derivatives acquired a new stake in LCI Industries during the fourth quarter worth $37,000. Public Employees Retirement System of Ohio increased its stake in LCI Industries by 16.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,420 shares of the company’s stock worth $95,000 after acquiring an additional 204 shares during the last quarter. Bank of Montreal Can increased its stake in LCI Industries by 16.9% during the fourth quarter. Bank of Montreal Can now owns 2,771 shares of the company’s stock worth $185,000 after acquiring an additional 400 shares during the last quarter. Finally, First Hawaiian Bank increased its stake in LCI Industries by 10.1% during the fourth quarter. First Hawaiian Bank now owns 2,840 shares of the company’s stock worth $189,000 after acquiring an additional 260 shares during the last quarter. 97.27% of the stock is owned by institutional investors and hedge funds.
NYSE:LCII opened at $91.11 on Wednesday. LCI Industries has a 12-month low of $59.68 and a 12-month high of $102.22. The company has a quick ratio of 1.05, a current ratio of 2.97 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $2.26 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.95 and a beta of 1.38.
LCI Industries (NYSE:LCII) last posted its earnings results on Thursday, February 7th. The company reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.15). LCI Industries had a return on equity of 21.05% and a net margin of 6.00%. The firm had revenue of $536.62 million for the quarter, compared to analyst estimates of $549.39 million. During the same quarter last year, the firm posted $1.20 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities research analysts predict that LCI Industries will post 5.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.63%. LCI Industries’s payout ratio is 40.96%.
In related news, insider Nick C. Fletcher sold 1,688 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $79.57, for a total transaction of $134,314.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.00% of the company’s stock.
LCII has been the subject of several research analyst reports. ValuEngine upgraded LCI Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Jefferies Financial Group initiated coverage on LCI Industries in a research report on Thursday, March 28th. They set a “buy” rating and a $86.00 price target for the company. Finally, Zacks Investment Research upgraded LCI Industries from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $99.80.
About LCI Industries
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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