LCI Industries (NYSE:LCII) Stock Position Trimmed by Congress Asset Management Co.

Congress Asset Management Co. trimmed its stake in shares of LCI Industries (NYSE:LCII) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,304 shares of the company’s stock after selling 261 shares during the quarter. Congress Asset Management Co.’s holdings in LCI Industries were worth $5,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Strategic Financial Concepts LLC acquired a new position in shares of LCI Industries in the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC increased 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 in the last quarter. LRI Investments LLC increased 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 in the last quarter. Headlands Technologies LLC purchased a new position in shares of LCI Industries in the fourth quarter worth approximately $59,000. Finally, Blue Trust Inc. grew its position in LCI Industries by 60.2% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the company’s stock valued at $64,000 after purchasing an additional 234 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors.

LCI Industries Stock Performance

Shares of LCII stock opened at $89.17 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 2.82. The company has a market capitalization of $2.25 billion, a P/E ratio of 15.92 and a beta of 1.27. The company’s 50 day moving average price is $83.29 and its two-hundred day moving average price is $97.07. LCI Industries has a 52 week low of $72.31 and a 52 week high of $129.38.

LCI Industries (NYSE:LCII) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.19 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $972.04 million. During the same period last year, the business earned $1.44 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts expect that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries announced that its board has authorized a share buyback program on Thursday, May 15th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 13.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

LCI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $1.15 per share. 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 5.16%. LCI Industries’s dividend payout ratio (DPR) is 75.41%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LCII. Truist Financial boosted their price objective on shares of LCI Industries from $80.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, June 3rd. Baird R W cut shares of LCI Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird cut their target price on shares of LCI Industries from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Wall Street Zen downgraded LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Finally, CJS Securities raised shares of LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 price target on the stock in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, LCI Industries presently has a consensus rating of “Hold” and an average target price of $114.50.

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.