Lord Abbett & CO. LLC Boosts Stake in LCI Industries (NYSE:LCII)

Lord Abbett & CO. LLC grew its position in shares of LCI Industries (NYSE:LCII) by 5.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 182,715 shares of the company’s stock after buying an additional 8,634 shares during the quarter. Lord Abbett & CO. LLC’s holdings in LCI Industries were worth $24,599,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LCII. First Horizon Advisors Inc. purchased a new position in shares of LCI Industries in the 3rd quarter worth about $32,000. 1832 Asset Management L.P. boosted its stake in LCI Industries by 344.7% in the second quarter. 1832 Asset Management L.P. now owns 209 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of LCI Industries by 135.1% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 228 shares of the company’s stock valued at $30,000 after acquiring an additional 131 shares during the period. Koshinski Asset Management Inc. bought a new stake in shares of LCI Industries in the 3rd quarter worth approximately $33,000. Finally, Truvestments Capital LLC bought a new position in LCI Industries during the third quarter valued at $47,000. Hedge funds and other institutional investors own 97.77% of the company’s stock.

In other news, insider Jamie Schnur sold 1,500 shares of the business’s stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $162.00, for a total transaction of $243,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.70% of the stock is owned by insiders.

A number of equities research analysts recently issued reports on LCII shares. Zacks Investment Research cut LCI Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 5th. Robert W. Baird boosted their price target on shares of LCI Industries from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, November 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, LCI Industries presently has an average rating of “Buy” and a consensus price target of $171.60.

Shares of LCI Industries stock opened at $144.43 on Friday. The company’s 50-day moving average price is $153.94 and its 200-day moving average price is $143.78. The company has a current ratio of 1.99, a quick ratio of 0.83 and a debt-to-equity ratio of 0.98. LCI Industries has a 12-month low of $122.99 and a 12-month high of $163.33. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 14.43 and a beta of 1.50.

LCI Industries (NYSE:LCII) last posted its earnings results on Tuesday, November 2nd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.47 by $0.03. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.08 billion. LCI Industries had a net margin of 6.29% and a return on equity of 26.22%. During the same period in the prior year, the company posted $2.72 EPS. On average, sell-side analysts predict that LCI Industries will post 10.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 17th. Investors of record on Friday, December 3rd were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Thursday, December 2nd. LCI Industries’s payout ratio is 35.96%.

LCI Industries Company Profile

LCI Industries engages in the manufacture, supply, and distribution of components for the original equipment manufacturers (OEM) of recreational vehicles and manufactured homes. It operates through the OEM and Aftermarket segments. The OEM segment offers components for buses; trailers used to haul boats, livestock, equipment and other cargo; trucks; pontoon boats; trains; manufactured homes; and modular housing.

Read More: Capital Gains Distribution

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Institutional Ownership by Quarter for LCI Industries (NYSE:LCII)

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