ARGA Investment Management LP Purchases 8,144 Shares of LCI Industries (NYSE:LCII)

ARGA Investment Management LP increased its stake in shares of LCI Industries (NYSE:LCII) by 144.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 13,789 shares of the company’s stock after buying an additional 8,144 shares during the period. ARGA Investment Management LP owned 0.05% of LCI Industries worth $1,697,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LCII. HighTower Advisors LLC boosted its holdings in shares of LCI Industries by 7.7% during the 3rd quarter. HighTower Advisors LLC now owns 4,895 shares of the company’s stock worth $573,000 after buying an additional 349 shares during the period. Deutsche Bank AG boosted its holdings in shares of LCI Industries by 9.1% during the 3rd quarter. Deutsche Bank AG now owns 12,688 shares of the company’s stock worth $1,490,000 after buying an additional 1,062 shares during the period. QRG Capital Management Inc. acquired a new stake in LCI Industries in the 3rd quarter worth about $288,000. Envestnet Portfolio Solutions Inc. acquired a new stake in LCI Industries in the 3rd quarter worth about $253,000. Finally, FMR LLC raised its stake in LCI Industries by 35.1% in the 3rd quarter. FMR LLC now owns 1,231,852 shares of the company’s stock worth $144,644,000 after purchasing an additional 320,243 shares in the last quarter. Institutional investors own 99.71% of the company’s stock.

LCI Industries Price Performance

Shares of LCI Industries stock traded up $1.49 during midday trading on Wednesday, hitting $101.02. 29,011 shares of the company traded hands, compared to its average volume of 222,955. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 27.37 and a beta of 1.43. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.06 and a current ratio of 2.86. The firm’s fifty day moving average price is $106.74 and its 200-day moving average price is $114.44. LCI Industries has a 12 month low of $98.92 and a 12 month high of $137.07.

LCI Industries (NYSE:LCII) last posted its earnings results on Wednesday, May 8th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.90. LCI Industries had a net margin of 2.47% and a return on equity of 6.85%. The firm had revenue of $968.00 million for the quarter, compared to analyst estimates of $963.02 million. During the same period in the previous year, the firm posted $0.29 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that LCI Industries will post 6.31 earnings per share for the current year.

LCI Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Friday, May 31st. LCI Industries’s dividend payout ratio is currently 114.13%.

Analyst Upgrades and Downgrades

Separately, Roth Mkm lifted their price objective on shares of LCI Industries from $100.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $104.80.

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.