LCI Industries (NYSE:LCII) Stake Cut by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in LCI Industries (NYSE:LCII) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 191,630 shares of the company’s stock after selling 3,612 shares during the quarter. Bank of Montreal Can owned approximately 0.75% of LCI Industries worth $23,003,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in LCI Industries by 1,289.3% in the third quarter. Blue Trust Inc. now owns 389 shares of the company’s stock worth $47,000 after acquiring an additional 361 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of LCI Industries in the first quarter valued at approximately $46,000. GAMMA Investing LLC boosted its position in LCI Industries by 98.2% during the 3rd quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock worth $66,000 after acquiring an additional 272 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of LCI Industries by 99.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the company’s stock worth $77,000 after purchasing an additional 370 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of LCI Industries during the second quarter valued at $93,000. Institutional investors own 99.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LCII. Truist Financial lifted their price target on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Friday, September 20th. StockNews.com cut shares of LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Raymond James started coverage on shares of LCI Industries in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, Benchmark reiterated a “buy” rating and issued a $130.00 price target on shares of LCI Industries in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $112.20.

LCI Industries Price Performance

NYSE LCII opened at $120.81 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.88 and a quick ratio of 1.25. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 23.50 and a beta of 1.41. The company has a 50 day simple moving average of $117.60 and a 200-day simple moving average of $112.54. LCI Industries has a 52-week low of $96.18 and a 52-week high of $131.36.

LCI Industries (NYSE:LCII) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.08. The firm had revenue of $915.50 million for the quarter, compared to analyst estimates of $922.85 million. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.02 EPS. Equities research analysts predict that LCI Industries will post 5.51 earnings per share for the current fiscal year.

LCI Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.81%. This is a positive change from LCI Industries’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, November 29th. LCI Industries’s dividend payout ratio (DPR) is currently 81.71%.

Insider Buying and Selling at LCI Industries

In related news, CEO Jason Lippert sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $126.00, for a total transaction of $1,260,000.00. Following the transaction, the chief executive officer now owns 373,145 shares of the company’s stock, valued at approximately $47,016,270. This trade represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.50% of the company’s stock.

About LCI Industries

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.