Boston Partners Boosts Stake in LCI Industries (LCII)
Boston Partners raised its position in LCI Industries (NASDAQ:LCII) by 2.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 729,159 shares of the company’s stock after buying an additional 15,308 shares during the period. Boston Partners’ holdings in LCI Industries were worth $74,666,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Tdam USA Inc. purchased a new position in LCI Industries during the second quarter worth $1,840,000. State of New Jersey Common Pension Fund D raised its position in LCI Industries by 8.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 200,000 shares of the company’s stock worth $20,480,000 after buying an additional 15,000 shares in the last quarter. Sei Investments Co. raised its position in LCI Industries by 2,623.4% in the second quarter. Sei Investments Co. now owns 11,983 shares of the company’s stock worth $1,228,000 after buying an additional 11,543 shares in the last quarter. K.J. Harrison & Partners Inc raised its position in LCI Industries by 215.2% in the second quarter. K.J. Harrison & Partners Inc now owns 15,760 shares of the company’s stock worth $1,614,000 after buying an additional 10,760 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in LCI Industries by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 139,744 shares of the company’s stock worth $14,310,000 after buying an additional 5,790 shares in the last quarter.
LCI Industries (LCII) opened at 96.55 on Friday. The firm has a market cap of $2.41 billion and a price-to-earnings ratio of 17.43. LCI Industries has a 52-week low of $80.65 and a 52-week high of $117.15. The stock has a 50 day moving average of $102.16 and a 200-day moving average of $100.93.
LCI Industries (NASDAQ:LCII) last posted its quarterly earnings data on Friday, August 4th. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.03. LCI Industries had a net margin of 7.33% and a return on equity of 26.74%. The company had revenue of $547 million during the quarter, compared to analyst estimates of $507.56 million. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, analysts expect that LCI Industries will post $5.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Wednesday, August 16th.
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LCII has been the subject of a number of analyst reports. Robert W. Baird initiated coverage on shares of LCI Industries in a research report on Wednesday, May 3rd. They issued an “outperform” rating and a $118.00 price objective for the company. Zacks Investment Research raised shares of LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Wednesday, July 5th.
In other news, President Scott T. Mereness acquired 3,000 shares of LCI Industries stock in a transaction on Thursday, August 10th. The stock was bought at an average cost of $94.50 per share, with a total value of $283,500.00. Following the completion of the purchase, the president now owns 204,824 shares of the company’s stock, valued at $19,355,868. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nick C. Fletcher sold 1,617 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $105.44, for a total transaction of $170,496.48. The disclosure for this sale can be found here.
About LCI Industries
LCI Industries, formerly Drew Industries Incorporated, through its subsidiary, Lippert Components, Inc and its subsidiaries (LCI), supplies an array of components for the original equipment manufacturers (OEMs) of recreational vehicles (RVs) and adjacent industries. The Company’s segments include OEM Segment and Aftermarket Segment.
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