Rice Hall James & Associates LLC boosted its position in shares of LCI Industries (NASDAQ:LCII) by 42.2% during the second quarter, Holdings Channel reports. The institutional investor owned 300,416 shares of the company’s stock after buying an additional 89,189 shares during the period. LCI Industries comprises approximately 1.3% of Rice Hall James & Associates LLC’s holdings, making the stock its 8th largest position. Rice Hall James & Associates LLC’s holdings in LCI Industries were worth $30,763,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System raised its stake in LCI Industries by 0.8% in the second quarter. Arizona State Retirement System now owns 12,998 shares of the company’s stock worth $1,331,000 after buying an additional 100 shares in the last quarter. New Jersey Better Educational Savings Trust purchased a new stake in LCI Industries during the second quarter worth approximately $410,000. Boston Partners raised its stake in LCI Industries by 2.1% in the second quarter. Boston Partners now owns 729,159 shares of the company’s stock worth $74,666,000 after buying an additional 15,308 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in LCI Industries by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 139,744 shares of the company’s stock worth $14,310,000 after buying an additional 5,790 shares in the last quarter. Finally, Tdam USA Inc. purchased a new stake in LCI Industries during the second quarter worth approximately $1,840,000.
Shares of LCI Industries (LCII) opened at 93.95 on Friday. The stock has a market capitalization of $2.34 billion and a price-to-earnings ratio of 16.96. LCI Industries has a 1-year low of $80.65 and a 1-year high of $117.15. The firm’s 50-day moving average is $102.32 and its 200-day moving average is $101.02.
LCI Industries (NASDAQ:LCII) last released its quarterly earnings data on Friday, August 4th. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.03. LCI Industries had a return on equity of 26.74% and a net margin of 7.33%. The business had revenue of $547 million for the quarter, compared to analysts’ expectations of $507.56 million. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, analysts predict that LCI Industries will post $5.83 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Wednesday, August 16th.
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A number of analysts have commented on the stock. Zacks Investment Research raised shares of LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Wednesday, July 5th. Robert W. Baird assumed coverage on shares of LCI Industries in a research note on Wednesday, May 3rd. They set an “outperform” rating and a $118.00 price objective for the company.
In other news, insider Nick C. Fletcher sold 1,617 shares of LCI Industries stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $105.44, for a total transaction of $170,496.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David A. Reed sold 2,000 shares of LCI Industries stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $101.29, for a total value of $202,580.00. The disclosure for this sale can be found here.
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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