OppenheimerFunds Inc. lessened its stake in shares of LCI Industries (NYSE:LCII) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,223 shares of the company’s stock after selling 1,142 shares during the quarter. OppenheimerFunds Inc.’s holdings in LCI Industries were worth $1,459,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado purchased a new stake in LCI Industries in the 4th quarter valued at about $170,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in LCI Industries by 104.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,429 shares of the company’s stock valued at $186,000 after buying an additional 730 shares during the period. Zions Bancorporation purchased a new stake in LCI Industries in the 3rd quarter valued at about $187,000. WP Advisors LLC purchased a new stake in LCI Industries in the 4th quarter valued at about $210,000. Finally, Everence Capital Management Inc. purchased a new stake in LCI Industries in the 4th quarter valued at about $221,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.
Several analysts have commented on the company. Zacks Investment Research upgraded LCI Industries from a “hold” rating to a “strong-buy” rating and set a $134.00 price target for the company in a report on Wednesday, February 14th. Robert W. Baird reaffirmed a “buy” rating and issued a $135.00 price objective on shares of LCI Industries in a research note on Friday, December 22nd. Finally, Northcoast Research began coverage on LCI Industries in a research note on Friday, January 26th. They issued a “sell” rating and a $94.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $117.50.
LCI Industries (NYSE:LCII) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.09. The business had revenue of $547.14 million for the quarter, compared to analyst estimates of $511.36 million. LCI Industries had a return on equity of 23.34% and a net margin of 6.19%. The company’s revenue was up 35.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. sell-side analysts anticipate that LCI Industries will post 8.1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, March 16th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 15th. LCI Industries’s dividend payout ratio is currently 41.98%.
In other news, Director James Gero acquired 2,500 shares of LCI Industries stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of $112.29 per share, with a total value of $280,725.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.60% of the company’s stock.
About LCI Industries
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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