Envestnet Asset Management Inc. Has $9.71 Million Position in LCI Industries $LCII

Envestnet Asset Management Inc. lessened its position in LCI Industries (NYSE:LCII) by 3.4% in the second quarter, HoldingsChannel.com reports. The fund owned 106,438 shares of the company’s stock after selling 3,803 shares during the period. Envestnet Asset Management Inc.’s holdings in LCI Industries were worth $9,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Millennium Management LLC raised its holdings in shares of LCI Industries by 482.2% in the 1st quarter. Millennium Management LLC now owns 635,540 shares of the company’s stock valued at $55,565,000 after purchasing an additional 526,378 shares during the period. ARGA Investment Management LP increased its position in LCI Industries by 1,386.8% during the second quarter. ARGA Investment Management LP now owns 424,374 shares of the company’s stock worth $38,699,000 after buying an additional 395,831 shares during the last quarter. Boston Partners acquired a new position in LCI Industries during the first quarter worth approximately $20,721,000. Jane Street Group LLC raised its stake in LCI Industries by 651.1% in the first quarter. Jane Street Group LLC now owns 234,864 shares of the company’s stock valued at $20,534,000 after buying an additional 203,594 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of LCI Industries in the first quarter valued at approximately $8,355,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

LCI Industries Trading Up 0.5%

Shares of NYSE:LCII opened at $108.54 on Monday. The business’s 50 day simple moving average is $96.45 and its 200 day simple moving average is $94.41. LCI Industries has a 1 year low of $72.31 and a 1 year high of $129.38. 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 $2.63 billion, a P/E ratio of 18.12 and a beta of 1.34.

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

LCI Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, August 29th. LCI Industries’s dividend payout ratio (DPR) is currently 64.34%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LCII. BMO Capital Markets raised LCI Industries from an “underperform” rating to a “market perform” rating and set a $110.00 target price on the stock in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LCI Industries in a research report on Wednesday, October 8th. Roth Capital upped their price objective on shares of LCI Industries from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Loop Capital initiated coverage on shares of LCI Industries in a research report on Friday, October 31st. They issued a “buy” rating and a $116.00 price objective on the stock. Finally, Truist Financial raised their target price on shares of LCI Industries from $88.00 to $91.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $113.67.

LCI Industries Profile

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.