Bank of America Corp DE grew its position in shares of LCI Industries (NYSE:LCII) by 24.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 141,107 shares of the company’s stock after buying an additional 27,757 shares during the quarter. Bank of America Corp DE owned 0.56% of LCI Industries worth $12,720,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of LCI Industries by 9.8% in the 2nd quarter. BlackRock Inc. now owns 3,437,411 shares of the company’s stock valued at $309,881,000 after purchasing an additional 305,546 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in shares of LCI Industries by 7,584.4% in the 1st quarter. Summit Trail Advisors LLC now owns 1,149,508 shares of the company’s stock valued at $1,150,000 after purchasing an additional 1,134,549 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of LCI Industries by 7.5% in the 1st quarter. Royal Bank of Canada now owns 882,854 shares of the company’s stock valued at $91,949,000 after purchasing an additional 61,583 shares in the last quarter. Congress Asset Management Co. MA increased its holdings in shares of LCI Industries by 4.3% in the 2nd quarter. Congress Asset Management Co. MA now owns 771,695 shares of the company’s stock valued at $69,568,000 after purchasing an additional 32,129 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of LCI Industries by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 696,032 shares of the company’s stock valued at $62,749,000 after purchasing an additional 10,970 shares in the last quarter. Institutional investors own 96.75% of the company’s stock.
NYSE:LCII opened at $78.04 on Friday. The company has a quick ratio of 1.11, a current ratio of 2.70 and a debt-to-equity ratio of 0.30. LCI Industries has a twelve month low of $76.53 and a twelve month high of $132.73. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 13.55 and a beta of 1.07.
LCI Industries (NYSE:LCII) last posted its earnings results on Thursday, August 2nd. The company reported $1.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.03. LCI Industries had a net margin of 5.92% and a return on equity of 23.39%. The firm had revenue of $684.46 million during the quarter, compared to the consensus estimate of $658.81 million. During the same period last year, the firm posted $1.59 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, research analysts forecast that LCI Industries will post 6.68 EPS for the current year.
The firm 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. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.40 annualized dividend and a yield of 3.08%. LCI Industries’s dividend payout ratio (DPR) is currently 41.67%.
A number of brokerages have recently issued reports on LCII. ValuEngine upgraded shares of LCI Industries from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Northcoast Research restated a “buy” rating on shares of LCI Industries in a report on Friday, August 17th. Zacks Investment Research downgraded shares of LCI Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Citigroup dropped their target price 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. Finally, Robert W. Baird restated 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 given a buy rating to the stock. LCI Industries currently has a consensus rating of “Hold” and a consensus target price of $114.80.
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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