The Manufacturers Life Insurance Company Acquires 463 Shares of LCI Industries (LCII)
The Manufacturers Life Insurance Company boosted its holdings in LCI Industries (NASDAQ:LCII) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,592 shares of the company’s stock after buying an additional 463 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of LCI Industries worth $1,903,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of LCII. Bruderman Asset Management LLC acquired a new position in LCI Industries in the second quarter worth approximately $122,000. Riverhead Capital Management LLC grew its position 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 buying an additional 599 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new position in LCI Industries in the second quarter worth approximately $144,000. LSV Asset Management acquired a new position in LCI Industries in the second quarter worth approximately $194,000. Finally, Teacher Retirement System of Texas acquired a new position in LCI Industries in the second quarter worth approximately $202,000.
LCI Industries (NASDAQ LCII) opened at $118.30 on Monday. LCI Industries has a 52 week low of $85.00 and a 52 week high of $129.20.
LCI Industries (NASDAQ:LCII) last posted its quarterly earnings data on Friday, August 4th. The company reported $1.59 EPS for the quarter, topping 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 firm 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.
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Several research analysts have issued reports on the stock. Robert W. Baird lifted their price target on shares of LCI Industries from $115.00 to $122.00 and gave the stock an “outperform” rating in a research report on Friday. BidaskClub raised shares of LCI Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 27th. Finally, Zacks Investment Research lowered shares of LCI Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $114.67.
In related news, insider Jamie Schnur sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $115.46, for a total value of $127,006.00. Following the completion of the transaction, the insider now owns 6,347 shares of the company’s stock, valued at approximately $732,824.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Scott T. Mereness acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $94.50 per share, with a total value of $283,500.00. Following the purchase, the president now directly owns 204,824 shares in the company, valued at approximately $19,355,868. The disclosure for this purchase can be found here. Insiders sold a total of 25,210 shares of company stock valued at $2,886,934 in the last ninety days.
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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