First Citizens Bank & Trust Co. Invests $265,000 in LCI Industries $LCII

First Citizens Bank & Trust Co. purchased a new stake in LCI Industries (NYSE:LCII) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,903 shares of the company’s stock, valued at approximately $265,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Entropy Technologies LP purchased a new position in LCI Industries in the first quarter valued at about $410,000. Teacher Retirement System of Texas boosted its holdings in LCI Industries by 136.5% in the first quarter. Teacher Retirement System of Texas now owns 9,503 shares of the company’s stock valued at $831,000 after purchasing an additional 5,484 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in LCI Industries by 93,707.4% in the first quarter. Russell Investments Group Ltd. now owns 25,328 shares of the company’s stock valued at $2,214,000 after purchasing an additional 25,301 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in LCI Industries by 16.0% in the first quarter. Allianz Asset Management GmbH now owns 20,347 shares of the company’s stock valued at $1,779,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in LCI Industries in the first quarter valued at about $825,000. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LCII shares. BMO Capital Markets increased their price target on LCI Industries from $80.00 to $85.00 and gave the company an “underperform” rating in a report on Wednesday, August 6th. Truist Financial upped their price objective on LCI Industries from $88.00 to $91.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of LCI Industries in a research note on Saturday. Finally, Wall Street Zen upgraded LCI Industries from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, LCI Industries has an average rating of “Hold” and a consensus price target of $104.00.

LCI Industries Stock Up 1.1%

Shares of LCI Industries stock opened at $92.03 on Monday. The business’s fifty day moving average price is $97.18 and its two-hundred day moving average price is $92.63. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.80 and a quick ratio of 1.34. The company has a market capitalization of $2.23 billion, a P/E ratio of 15.36 and a beta of 1.31. LCI Industries has a 1-year low of $72.31 and a 1-year high of $129.38.

LCI Industries (NYSE:LCII) last announced its earnings results on Tuesday, June 7th. The company reported $2.93 earnings per share for the quarter. The firm had revenue of $1 billion for the quarter. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%. As a group, research analysts forecast that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were given a dividend of $1.15 per share. The ex-dividend date was Friday, August 29th. This represents a $4.60 annualized dividend and a dividend yield of 5.0%. LCI Industries’s dividend payout ratio (DPR) is 76.79%.

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.