LCI Industries (NYSE:LCII) Trading 4.9% Higher After Strong Earnings

LCI Industries (NYSE:LCII) traded up 4.9% on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $107.85 and last traded at $106.99. 88,733 shares changed hands during trading, a decline of 62% from the average session volume of 233,382 shares. The stock had previously closed at $101.98.

The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%.

LCI Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $1.15 dividend. This is an increase from LCI Industries’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, November 29th. This represents a $4.60 dividend on an annualized basis and a yield of 4.33%. LCI Industries’s dividend payout ratio is currently 89.49%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Truist Financial increased their target price on LCI Industries from $102.00 to $108.00 and gave the company a “hold” rating in a report on Monday. StockNews.com raised LCI Industries from a “hold” rating to a “buy” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.25.

Insiders Place Their Bets

In related news, CEO Jason Lippert sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $126.00, for a total transaction of $1,260,000.00. Following the completion of the sale, the chief executive officer now directly owns 373,145 shares of the company’s stock, valued at approximately $47,016,270. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On LCI Industries

A number of institutional investors and hedge funds have recently bought and sold shares of LCII. Teacher Retirement System of Texas increased its holdings in shares of LCI Industries by 22.4% in the 4th quarter. Teacher Retirement System of Texas now owns 4,019 shares of the company’s stock valued at $416,000 after acquiring an additional 735 shares during the period. Cibc World Markets Corp acquired a new position in shares of LCI Industries in the fourth quarter valued at about $240,000. Royce & Associates LP increased its holdings in shares of LCI Industries by 46.1% in the fourth quarter. Royce & Associates LP now owns 546,623 shares of the company’s stock valued at $56,515,000 after purchasing an additional 172,586 shares during the period. Impact Capital Partners LLC acquired a new position in shares of LCI Industries in the fourth quarter valued at about $369,000. Finally, Swiss National Bank boosted its stake in shares of LCI Industries by 0.8% in the fourth quarter. Swiss National Bank now owns 50,100 shares of the company’s stock worth $5,180,000 after buying an additional 400 shares during the last quarter. 99.71% of the stock is owned by institutional investors.

LCI Industries Stock Up 4.2 %

The company has a quick ratio of 1.25, a current ratio of 2.88 and a debt-to-equity ratio of 0.58. The stock has a market cap of $2.71 billion, a PE ratio of 20.71 and a beta of 1.44. The business has a 50 day moving average price of $107.09 and a 200 day moving average price of $113.09.

LCI Industries Company Profile

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.