LCI Industries (LCII) Stake Raised by Royal Bank of Canada
Royal Bank of Canada grew its stake in LCI Industries (NASDAQ:LCII) by 65.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 826,484 shares of the company’s stock after purchasing an additional 326,926 shares during the quarter. Royal Bank of Canada owned approximately 3.32% of LCI Industries worth $84,633,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. Bruderman Asset Management LLC bought a new position in shares of LCI Industries during the second quarter worth about $122,000. Riverhead Capital Management LLC grew its stake in LCI Industries by 74.9% in the second quarter. Riverhead Capital Management LLC now owns 1,399 shares of the company’s stock worth $143,000 after purchasing an additional 599 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new position in LCI Industries in the second quarter worth about $144,000. LSV Asset Management acquired a new position in LCI Industries in the second quarter worth about $194,000. Finally, Teacher Retirement System of Texas acquired a new position in LCI Industries in the second quarter worth about $202,000.
In other LCI Industries news, President Scott T. Mereness purchased 3,000 shares of the stock in a transaction on Thursday, August 10th. The shares were purchased at an average price of $94.50 per share, with a total value of $283,500.00. Following the acquisition, the president now directly owns 204,824 shares of the company’s stock, valued at approximately $19,355,868. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jamie Schnur sold 1,100 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $115.46, for a total transaction of $127,006.00. Following the completion of the sale, the insider now directly owns 6,347 shares in the company, valued at approximately $732,824.62. The disclosure for this sale can be found here. Insiders have sold 25,210 shares of company stock worth $2,886,934 in the last quarter.
Shares of LCI Industries (LCII) traded down 1.92% during trading on Tuesday, reaching $117.25. The company had a trading volume of 37,618 shares. LCI Industries has a 12 month low of $80.65 and a 12 month high of $120.70. The stock has a 50 day moving average price of $102.63 and a 200 day moving average price of $99.18. The firm has a market capitalization of $2.92 billion and a PE ratio of 21.17.
LCI Industries (NASDAQ:LCII) last announced its quarterly earnings data on Friday, August 4th. The company reported $1.59 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.03. LCI Industries had a net margin of 7.33% and a return on equity of 26.74%. The business had revenue of $547.00 million during the quarter, compared to analyst estimates of $507.56 million. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, equities research analysts forecast that LCI Industries will post $5.78 EPS for the current year.
Several analysts recently weighed in on the company. Robert W. Baird reissued a “buy” rating and issued a $115.00 price objective on shares of LCI Industries in a report on Friday, August 25th. Zacks Investment Research raised LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Wednesday, July 5th. Finally, BidaskClub raised LCI Industries from a “hold” rating to a “buy” rating in a report on Saturday, September 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $112.33.
LCI Industries Company Profile
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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