LCI Industries (NYSE:LCII) Position Lowered by Summit Trail Advisors LLC
Summit Trail Advisors LLC lessened its holdings in LCI Industries (NYSE:LCII) by 76.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,870 shares of the company’s stock after selling 12,819 shares during the quarter. Summit Trail Advisors LLC’s holdings in LCI Industries were worth $349,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LCII. NumerixS Investment Technologies Inc bought a new position in shares of LCI Industries in the second quarter worth about $201,000. FNY Investment Advisers LLC bought a new position in LCI Industries in the 2nd quarter valued at approximately $204,000. WP Advisors LLC bought a new position in LCI Industries in the 2nd quarter valued at approximately $207,000. Bank of Montreal Can bought a new position in LCI Industries in the 2nd quarter valued at approximately $215,000. Finally, Canandaigua National Bank & Trust Co. bought a new position in LCI Industries during the 1st quarter worth approximately $227,000. 96.78% of the stock is currently owned by hedge funds and other institutional investors.
LCI Industries stock traded up $2.95 during midday trading on Friday, reaching $95.35. The stock had a trading volume of 264,623 shares, compared to its average volume of 178,048. LCI Industries has a 12 month low of $80.95 and a 12 month high of $132.73. The stock has a market capitalization of $2.33 billion, a P/E ratio of 14.95 and a beta of 1.07. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 2.70.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Thursday, August 30th. LCI Industries’s payout ratio is presently 41.67%.
LCII has been the subject of several analyst reports. Citigroup lowered their price target on shares of LCI Industries from $131.00 to $112.00 and set a “buy” rating for the company in a report on Tuesday, June 19th. Robert W. Baird reaffirmed a “buy” rating and set a $115.00 price objective on shares of LCI Industries in a research report on Wednesday, July 25th. ValuEngine downgraded shares of LCI Industries from a “hold” rating to a “sell” rating in a research report on Friday, June 22nd. Northcoast Research reissued a “buy” rating on shares of LCI Industries in a research report on Friday, August 17th. Finally, Zacks Investment Research cut LCI Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $113.75.
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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