2,196 Shares in LCI Industries (NYSE:LCII) Purchased by Summit Global Investments

Summit Global Investments acquired a new position in shares of LCI Industries (NYSE:LCII) in the 2nd quarter, Holdings Channel reports. The fund acquired 2,196 shares of the company’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also made changes to their positions in LCII. PNC Financial Services Group Inc. raised its holdings in shares of LCI Industries by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,407 shares of the company’s stock worth $554,000 after purchasing an additional 92 shares during the last quarter. HM Payson & Co. raised its holdings in shares of LCI Industries by 6.4% during the first quarter. HM Payson & Co. now owns 1,755 shares of the company’s stock worth $216,000 after purchasing an additional 105 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of LCI Industries by 0.8% during 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 during the last quarter. QRG Capital Management Inc. raised its holdings in shares of LCI Industries by 4.6% during the fourth quarter. QRG Capital Management Inc. now owns 2,567 shares of the company’s stock worth $323,000 after purchasing an additional 113 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of LCI Industries by 5.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,508 shares of the company’s stock worth $309,000 after purchasing an additional 136 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LCII. Roth Mkm raised their target price on shares of LCI Industries from $100.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Benchmark reaffirmed a “buy” rating and issued a $130.00 price objective on shares of LCI Industries in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $109.00.

LCI Industries Price Performance

Shares of NYSE LCII traded up $3.48 during trading on Wednesday, hitting $115.88. The company had a trading volume of 59,404 shares, compared to its average volume of 237,314. The stock has a fifty day simple moving average of $107.36 and a two-hundred day simple moving average of $111.06. LCI Industries has a fifty-two week low of $96.18 and a fifty-two week high of $131.36. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 31.14 and a beta of 1.42. The company has a quick ratio of 1.06, a current ratio of 2.86 and a debt-to-equity ratio of 0.63.

LCI Industries (NYSE:LCII) last announced its earnings results on Tuesday, August 6th. The company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.24. LCI Industries had a net margin of 2.47% and a return on equity of 6.85%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business earned $1.31 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts expect that LCI Industries will post 6.29 earnings per share for the current year.

LCI Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.20 annualized dividend and a dividend yield of 3.62%. LCI Industries’s dividend payout ratio (DPR) is 114.13%.

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.