Lord Abbett & CO. LLC raised its position in LCI Industries (NYSE:LCII) by 6.6% during the second quarter, Holdings Channel.com reports. The fund owned 174,081 shares of the company’s stock after purchasing an additional 10,773 shares during the quarter. Lord Abbett & CO. LLC’s holdings in LCI Industries were worth $22,878,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its holdings in shares of LCI Industries by 135.1% during the second quarter. O Shaughnessy Asset Management LLC now owns 228 shares of the company’s stock valued at $30,000 after acquiring an additional 131 shares in the last quarter. Bbva USA bought a new stake in shares of LCI Industries during the 2nd quarter valued at about $32,000. Quantbot Technologies LP bought a new position in LCI Industries in the first quarter worth about $53,000. Rockefeller Capital Management L.P. lifted its holdings in LCI Industries by 11,785.7% in the second quarter. Rockefeller Capital Management L.P. now owns 832 shares of the company’s stock worth $109,000 after buying an additional 825 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in LCI Industries by 403.3% in the first quarter. Captrust Financial Advisors now owns 906 shares of the company’s stock worth $120,000 after buying an additional 726 shares during the period. Institutional investors own 98.02% of the company’s stock.
A number of research analysts have recently commented on LCII shares. Truist Securities initiated coverage on LCI Industries in a research note on Thursday, July 15th. They issued a “buy” rating and a $170.00 target price for the company. Zacks Investment Research downgraded shares of LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 14th. Truist Financial started coverage on shares of LCI Industries in a report on Thursday, July 15th. They set a “buy” rating and a $170.00 price objective for the company. Finally, Truist assumed coverage on shares of LCI Industries in a report on Thursday, July 15th. They issued a “buy” rating and a $170.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, LCI Industries currently has a consensus rating of “Buy” and a consensus price target of $161.00.
LCI Industries (NYSE:LCII) last announced its earnings results on Tuesday, August 3rd. The company reported $2.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.04). LCI Industries had a net margin of 6.99% and a return on equity of 27.86%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The business’s quarterly revenue was up 108.0% compared to the same quarter last year. Research analysts anticipate that LCI Industries will post 10.58 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, September 3rd were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Thursday, September 2nd. LCI Industries’s payout ratio is 55.47%.
LCI Industries Profile
LCI Industries engages in the manufacture, supply, and distribution of components for the original equipment manufacturers (OEM) of recreational vehicles and manufactured homes. It operates through the OEM and Aftermarket segments. The OEM segment offers components for buses; trailers used to haul boats, livestock, equipment and other cargo; trucks; pontoon boats; trains; manufactured homes; and modular housing.
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