Congress Asset Management Co. Decreases Position in LCI Industries (NYSE:LCII)

Congress Asset Management Co. trimmed its holdings in shares of LCI Industries (NYSE:LCII) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 52,262 shares of the company’s stock after selling 526 shares during the period. Congress Asset Management Co.’s holdings in LCI Industries were worth $6,300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in shares of LCI Industries by 1,289.3% in the third quarter. Blue Trust Inc. now owns 389 shares of the company’s stock worth $47,000 after purchasing an additional 361 shares during the last quarter. LRI Investments LLC purchased a new stake in LCI Industries during the 1st quarter valued at $46,000. GAMMA Investing LLC grew its holdings in LCI Industries by 98.2% in the 3rd quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock worth $66,000 after acquiring an additional 272 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of LCI Industries in the first quarter valued at about $68,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of LCI Industries by 99.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the company’s stock valued at $77,000 after acquiring an additional 370 shares during the last quarter. 99.71% of the stock is owned by institutional investors.

LCI Industries Price Performance

Shares of LCII stock opened at $112.58 on Friday. The business’s fifty day moving average is $117.46 and its 200 day moving average is $111.16. The company has a quick ratio of 1.23, a current ratio of 2.82 and a debt-to-equity ratio of 0.59. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 23.60 and a beta of 1.41. LCI Industries has a twelve month low of $96.18 and a twelve month high of $131.36.

LCI Industries (NYSE:LCII) last released its earnings results on Tuesday, August 6th. The company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.24. LCI Industries had a net margin of 3.17% and a return on equity of 8.85%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $1.31 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. Research analysts expect that LCI Industries will post 5.97 EPS for the current fiscal year.

LCI Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Friday, August 30th. LCI Industries’s dividend payout ratio is 88.05%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LCII. Benchmark reissued a “buy” rating and issued a $130.00 target price on shares of LCI Industries in a research note on Wednesday, August 7th. StockNews.com lowered LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Truist Financial upped their target price on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, Raymond James began coverage on shares of LCI Industries in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $112.20.

About LCI Industries

LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments: Original Equipment Manufacturers (OEM) and Aftermarket.