LCI Industries (NYSE:LCII) CEO Sells $1,260,000.00 in Stock

LCI Industries (NYSE:LCII) CEO Jason Lippert sold 10,000 shares of LCI Industries 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 completion of the sale, the chief executive officer now owns 373,145 shares of the company’s stock, valued at approximately $47,016,270. The trade was a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

LCI Industries Trading Down 0.6 %

NYSE LCII opened at $122.50 on Friday. LCI Industries has a twelve month low of $96.18 and a twelve month high of $131.36. The business’s fifty day moving average is $117.61 and its 200 day moving average is $112.50. The company has a quick ratio of 1.25, a current ratio of 2.88 and a debt-to-equity ratio of 0.58. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 23.83 and a beta of 1.41.

LCI Industries (NYSE:LCII) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.08. The company had revenue of $915.50 million for the quarter, compared to analysts’ expectations of $922.85 million. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.02 earnings per share. As a group, sell-side analysts expect that LCI Industries will post 5.51 EPS for the current fiscal year.

LCI Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $1.15 per share. This is a positive change from LCI Industries’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Friday, November 29th. LCI Industries’s dividend payout ratio (DPR) is currently 89.49%.

Hedge Funds Weigh In On LCI Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in LCII. Mercer Global Advisors Inc. ADV lifted its stake in shares of LCI Industries by 4.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,244 shares of the company’s stock valued at $232,000 after purchasing an additional 90 shares during the period. nVerses Capital LLC lifted its position in shares of LCI Industries by 7.7% during the 2nd quarter. nVerses Capital LLC now owns 1,400 shares of the company’s stock worth $145,000 after buying an additional 100 shares in the last quarter. HM Payson & Co. boosted its holdings in shares of LCI Industries by 6.4% in the 1st quarter. HM Payson & Co. now owns 1,755 shares of the company’s stock worth $216,000 after buying an additional 105 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of LCI Industries by 2.6% during the 2nd quarter. Hsbc Holdings PLC now owns 4,079 shares of the company’s stock worth $417,000 after purchasing an additional 105 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of LCI Industries by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 7,090 shares of the company’s stock worth $733,000 after purchasing an additional 130 shares during the period. 99.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Raymond James assumed coverage on LCI Industries in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. StockNews.com lowered shares of LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Benchmark restated a “buy” rating and set a $130.00 price objective on shares of LCI Industries in a research report on Wednesday, August 7th. Finally, Truist Financial raised their price objective on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, LCI Industries presently has a consensus rating of “Hold” and an average target price of $112.20.

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.