Pacer Advisors Inc. Sells 62,676 Shares of LCI Industries (NYSE:LCII)

Pacer Advisors Inc. trimmed its holdings in shares of LCI Industries (NYSE:LCII) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,362,616 shares of the company’s stock after selling 62,676 shares during the period. Pacer Advisors Inc. owned about 5.35% of LCI Industries worth $140,867,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. boosted its position in LCI Industries by 99.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the company’s stock valued at $77,000 after purchasing an additional 370 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of LCI Industries in the 2nd quarter valued at approximately $438,000. Hsbc Holdings PLC grew its stake in shares of LCI Industries by 2.6% in the second quarter. Hsbc Holdings PLC now owns 4,079 shares of the company’s stock valued at $417,000 after buying an additional 105 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in LCI Industries by 4.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,244 shares of the company’s stock worth $232,000 after buying an additional 90 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in LCI Industries during the second quarter worth $1,530,000. Institutional investors own 99.71% of the company’s stock.

LCI Industries Stock Performance

Shares of LCII stock opened at $120.86 on Friday. LCI Industries has a 52 week low of $96.18 and a 52 week high of $131.36. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 32.84 and a beta of 1.41. The company has a 50-day simple moving average of $114.37 and a 200 day simple moving average of $110.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.23 and a current ratio of 2.82.

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

LCI Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Friday, August 30th. LCI Industries’s dividend payout ratio is currently 114.13%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LCII shares. Benchmark reissued a “buy” rating and issued a $130.00 price objective on shares of LCI Industries in a research report on Wednesday, August 7th. Truist Financial raised their target price on shares of LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $108.67.

LCI Industries 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.