Kayne Anderson Rudnick Investment Management LLC Grows Position in LCI Industries (NYSE:LCII)

Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of LCI Industries (NYSE:LCII) by 0.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,369,598 shares of the company’s stock after purchasing an additional 5,049 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 9.31% of LCI Industries worth $244,969,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. increased its holdings in LCI Industries by 10.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,372 shares of the company’s stock worth $298,000 after acquiring an additional 215 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of LCI Industries by 0.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 14,191 shares of the company’s stock worth $1,784,000 after purchasing an additional 111 shares in the last quarter. Norges Bank purchased a new position in shares of LCI Industries during the 4th quarter valued at $33,784,000. PNC Financial Services Group Inc. boosted its holdings in LCI Industries by 2.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,407 shares of the company’s stock worth $554,000 after buying an additional 92 shares during the period. Finally, SageView Advisory Group LLC raised its holdings in LCI Industries by 9.6% during the fourth quarter. SageView Advisory Group LLC now owns 2,508 shares of the company’s stock valued at $315,000 after acquiring an additional 219 shares during the period. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LCII. Benchmark reissued a “buy” rating and set a $130.00 target price on shares of LCI Industries in a research note on Wednesday, August 7th. 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 research report on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $108.67.

LCI Industries Stock Performance

NYSE LCII opened at $120.86 on Friday. The stock has a market capitalization of $3.08 billion, a PE ratio of 32.84 and a beta of 1.41. LCI Industries has a 1-year low of $96.18 and a 1-year high of $131.36. The business has a 50 day simple moving average of $114.37 and a two-hundred day simple moving average of $110.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.82 and a quick ratio of 1.23.

LCI Industries (NYSE:LCII) last posted its earnings results on Tuesday, August 6th. The company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.24. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. LCI Industries had a net margin of 3.17% and a return on equity of 8.85%. LCI Industries’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $1.31 earnings per share. On average, research analysts predict that LCI Industries will post 6 EPS for the current fiscal year.

LCI Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $1.05 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.20 annualized dividend and a yield of 3.48%. LCI Industries’s dividend payout ratio is currently 114.13%.

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.