LCI Industries (LCII) Shares Sold by Sei Investments Co.
Sei Investments Co. decreased its position in LCI Industries (NYSE:LCII) by 87.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,289 shares of the company’s stock after selling 9,178 shares during the quarter. Sei Investments Co.’s holdings in LCI Industries were worth $116,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of LCI Industries by 2.5% during the 1st quarter. BlackRock Inc. now owns 3,131,865 shares of the company’s stock valued at $326,183,000 after acquiring an additional 77,672 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of LCI Industries by 7,584.4% during the 1st quarter. Summit Trail Advisors LLC now owns 1,149,508 shares of the company’s stock valued at $1,150,000 after acquiring an additional 1,134,549 shares during the last quarter. Royal Bank of Canada increased its stake in shares of LCI Industries by 7.5% during the 1st quarter. Royal Bank of Canada now owns 882,854 shares of the company’s stock valued at $91,949,000 after acquiring an additional 61,583 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of LCI Industries by 6.2% during the 1st quarter. JPMorgan Chase & Co. now owns 838,553 shares of the company’s stock valued at $87,335,000 after acquiring an additional 48,801 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its holdings in shares of LCI Industries by 4.3% during the 2nd quarter. Congress Asset Management Co. MA now owns 771,695 shares of the company’s stock worth $69,568,000 after purchasing an additional 32,129 shares during the period. 96.75% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the company. Zacks Investment Research cut LCI Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. ValuEngine cut LCI Industries from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Northcoast Research reiterated a “buy” rating on shares of LCI Industries in a report on Friday, August 17th. Sidoti decreased their target price on LCI Industries from $136.00 to $119.00 and set a “buy” rating for the company in a report on Friday, September 28th. Finally, Robert W. Baird reiterated a “buy” rating and set a $115.00 target price on shares of LCI Industries in a report on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $114.80.
LCI Industries (NYSE:LCII) last released its quarterly earnings results on Thursday, August 2nd. The company reported $1.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.03. The firm had revenue of $684.46 million during the quarter, compared to analysts’ expectations of $658.81 million. LCI Industries had a return on equity of 23.39% and a net margin of 5.92%. LCI Industries’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.59 EPS. Sell-side analysts anticipate that LCI Industries will post 6.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Thursday, August 30th. LCI Industries’s dividend payout ratio is presently 41.67%.
LCI Industries Company 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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