MetLife Investment Management LLC Lowers Position in LCI Industries $LCII

MetLife Investment Management LLC trimmed its position in shares of LCI Industries (NYSE:LCII) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,656 shares of the company’s stock after selling 253 shares during the quarter. MetLife Investment Management LLC owned 0.06% of LCI Industries worth $1,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SVB Wealth LLC purchased a new position in LCI Industries during the 1st quarter valued at about $28,000. LRI Investments LLC boosted its holdings in LCI Industries by 345.6% during the 4th quarter. LRI Investments LLC now owns 401 shares of the company’s stock valued at $41,000 after acquiring an additional 311 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in LCI Industries by 535.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company’s stock valued at $46,000 after acquiring an additional 439 shares during the period. Smartleaf Asset Management LLC boosted its holdings in LCI Industries by 45.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 534 shares of the company’s stock valued at $47,000 after acquiring an additional 167 shares during the period. Finally, SouthState Corp boosted its holdings in LCI Industries by 4,483.3% during the 1st quarter. SouthState Corp now owns 550 shares of the company’s stock valued at $48,000 after acquiring an additional 538 shares during the period. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

LCI Industries Price Performance

Shares of NYSE LCII opened at $105.73 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.34 and a current ratio of 2.80. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38. The firm has a market capitalization of $2.56 billion, a PE ratio of 17.65 and a beta of 1.34. The stock’s 50-day simple moving average is $99.92 and its 200-day simple moving average is $92.38.

LCI Industries (NYSE:LCII) last issued its earnings results on Tuesday, August 5th. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.17. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%.The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $2.40 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 15th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 13.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

LCI Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, August 29th. LCI Industries’s dividend payout ratio (DPR) is 76.79%.

Analysts Set New Price Targets

A number of brokerages recently commented on LCII. Truist Financial raised their target price on LCI Industries from $80.00 to $88.00 and gave the company a “hold” rating in a report on Tuesday, June 3rd. Wall Street Zen lowered LCI Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, BMO Capital Markets increased their price target on LCI Industries from $80.00 to $85.00 and gave the company an “underperform” rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, LCI Industries currently has an average rating of “Hold” and an average price target of $103.25.

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.