First Manhattan Co. Reduces Position in LCI Industries (LCII)

First Manhattan Co. lowered its position in LCI Industries (NYSE:LCII) by 34.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 18,708 shares of the company’s stock after selling 9,930 shares during the quarter. First Manhattan Co.’s holdings in LCI Industries were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in LCI Industries by 10.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,191,611 shares of the company’s stock worth $98,666,000 after purchasing an additional 113,605 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of LCI Industries during the 3rd quarter valued at about $258,000. Bank of New York Mellon Corp boosted its position in shares of LCI Industries by 1.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 402,316 shares of the company’s stock valued at $33,312,000 after acquiring an additional 6,460 shares in the last quarter. BlackRock Inc. boosted its position in shares of LCI Industries by 3.8% during the 3rd quarter. BlackRock Inc. now owns 3,568,016 shares of the company’s stock valued at $295,433,000 after acquiring an additional 130,605 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of LCI Industries by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 710,143 shares of the company’s stock valued at $58,802,000 after acquiring an additional 14,111 shares in the last quarter. Institutional investors own 97.27% of the company’s stock.

LCII has been the subject of a number of recent research reports. Zacks Investment Research raised shares of LCI Industries from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Jefferies Financial Group initiated coverage on shares of LCI Industries in a research note on Thursday, March 28th. They set a “buy” rating and a $86.00 price target for the company. Finally, ValuEngine raised shares of LCI Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $99.80.

LCII opened at $91.11 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 2.97 and a debt-to-equity ratio of 0.42. The company has a market cap of $2.26 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 0.95 and a beta of 1.38. LCI Industries has a fifty-two week low of $59.68 and a fifty-two week high of $102.22.

LCI Industries (NYSE:LCII) last posted its quarterly earnings results on Thursday, February 7th. The company reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.15). The business had revenue of $536.62 million for the quarter, compared to the consensus estimate of $549.39 million. LCI Industries had a return on equity of 21.05% and a net margin of 6.00%. The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. On average, equities research analysts anticipate that LCI Industries will post 5.94 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Thursday, March 7th. LCI Industries’s dividend payout ratio (DPR) is 40.96%.

In related news, insider Nick C. Fletcher sold 1,688 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $79.57, for a total transaction of $134,314.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

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LCI Industries Profile

LCI Industries, along with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures or distributes various components for the OEMs of RVs and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; travel trailers, fifth-wheel travel trailers, folding camping trailers, and truck campers; trucks; pontoon boats; trains; manufactured homes; and modular housing.

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Institutional Ownership by Quarter for LCI Industries (NYSE:LCII)

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