Verition Fund Management LLC Decreases Stock Position in LCI Industries (NYSE:LCII)

Verition Fund Management LLC trimmed its position in shares of LCI Industries (NYSE:LCII) by 78.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,735 shares of the company’s stock after selling 6,502 shares during the quarter. Verition Fund Management LLC’s holdings in LCI Industries were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of LCI Industries by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock worth $114,945,000 after purchasing an additional 62,354 shares during the period. Principal Financial Group Inc. boosted its position in shares of LCI Industries by 6.1% during the third quarter. Principal Financial Group Inc. now owns 632,221 shares of the company’s stock valued at $76,202,000 after buying an additional 36,487 shares during the period. Victory Capital Management Inc. grew its stake in shares of LCI Industries by 2.5% during the third quarter. Victory Capital Management Inc. now owns 621,218 shares of the company’s stock valued at $74,882,000 after buying an additional 14,969 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of LCI Industries by 30.5% in the second quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock worth $43,274,000 after buying an additional 97,877 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of LCI Industries by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 411,278 shares of the company’s stock worth $49,575,000 after acquiring an additional 29,192 shares during the last quarter. Institutional investors own 99.71% of the company’s stock.

LCI Industries Price Performance

LCII opened at $115.76 on Monday. The firm has a market capitalization of $2.95 billion, a PE ratio of 22.52 and a beta of 1.41. The business’s 50-day moving average is $117.38 and its two-hundred day moving average is $113.20. LCI Industries has a 1 year low of $96.18 and a 1 year high of $131.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.88 and a quick ratio of 1.25.

LCI Industries (NYSE:LCII) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. The firm had revenue of $915.50 million for the quarter, compared to the consensus estimate of $922.85 million. During the same quarter in the previous year, the firm earned $1.02 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. Research analysts anticipate that LCI Industries will post 5.51 earnings per share for the current fiscal year.

LCI Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, November 29th. This is an increase from LCI Industries’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.97%. LCI Industries’s dividend payout ratio is presently 89.49%.

Insider Transactions at LCI Industries

In related news, CEO Jason Lippert sold 10,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $126.00, for a total value of $1,260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 373,145 shares of the company’s stock, valued at $47,016,270. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LCII. Raymond James initiated coverage on LCI Industries in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. StockNews.com cut shares of LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Truist Financial lifted their price objective on shares of LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LCI Industries has a consensus rating of “Hold” and an average price target 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.