LCI Industries (LCII) President Scott T. Mereness Acquires 1,500 Shares of Stock
LCI Industries (NASDAQ:LCII) President Scott T. Mereness acquired 1,500 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was acquired at an average cost of $114.00 per share, for a total transaction of $171,000.00. Following the completion of the acquisition, the president now directly owns 207,824 shares in the company, valued at $23,691,936. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of LCI Industries (NASDAQ LCII) opened at $115.50 on Tuesday. LCI Industries has a twelve month low of $86.25 and a twelve month high of $129.20.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, November 16th. This is an increase from LCI Industries’s previous quarterly dividend of $0.50. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Republic Investment Management Inc. boosted its holdings in LCI Industries by 23.0% during the third quarter. First Republic Investment Management Inc. now owns 4,153 shares of the company’s stock worth $481,000 after buying an additional 777 shares in the last quarter. Stifel Financial Corp boosted its holdings in LCI Industries by 9.2% during the third quarter. Stifel Financial Corp now owns 143,656 shares of the company’s stock worth $16,630,000 after buying an additional 12,130 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in LCI Industries by 3.3% during the third quarter. Dimensional Fund Advisors LP now owns 671,293 shares of the company’s stock worth $77,768,000 after buying an additional 21,314 shares in the last quarter. Hartford Investment Management Co. purchased a new stake in LCI Industries during the third quarter worth $229,000. Finally, Moody Aldrich Partners LLC purchased a new stake in LCI Industries during the third quarter worth $701,000.
LCII has been the topic of several recent research reports. BidaskClub downgraded shares of LCI Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 12th. Robert W. Baird reaffirmed a “buy” rating and issued a $115.00 price objective on shares of LCI Industries in a report on Thursday, September 28th. Finally, Zacks Investment Research downgraded shares of LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $114.67.
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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