Franklin Resources Inc. Acquires 31,376 Shares of LCI Industries (NYSE:LCII)

Franklin Resources Inc. grew its stake in LCI Industries (NYSE:LCII - Free Report) by 11.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 317,439 shares of the company's stock after buying an additional 31,376 shares during the quarter. Franklin Resources Inc. owned approximately 1.25% of LCI Industries worth $37,607,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LCII. Tidal Investments LLC increased its stake in shares of LCI Industries by 2.4% in the third quarter. Tidal Investments LLC now owns 9,402 shares of the company's stock worth $1,133,000 after purchasing an additional 223 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in LCI Industries in the 3rd quarter worth $49,000. SkyView Investment Advisors LLC increased its stake in LCI Industries by 2.9% in the 3rd quarter. SkyView Investment Advisors LLC now owns 5,069 shares of the company's stock worth $611,000 after buying an additional 143 shares in the last quarter. Geode Capital Management LLC raised its holdings in LCI Industries by 0.3% during the third quarter. Geode Capital Management LLC now owns 564,761 shares of the company's stock valued at $68,090,000 after acquiring an additional 1,688 shares during the period. Finally, MML Investors Services LLC bought a new stake in LCI Industries during the third quarter valued at about $260,000. Institutional investors own 99.71% of the company's stock.

LCI Industries Price Performance

NYSE LCII traded down $0.66 during trading on Thursday, hitting $105.13. 228,313 shares of the stock traded hands, compared to its average volume of 226,531. The company has a quick ratio of 1.25, a current ratio of 2.88 and a debt-to-equity ratio of 0.58. LCI Industries has a 12-month low of $96.18 and a 12-month high of $131.36. The firm has a 50-day simple moving average of $116.90 and a 200-day simple moving average of $113.17. The company has a market capitalization of $2.68 billion, a P/E ratio of 20.45 and a beta of 1.41.

LCI Industries (NYSE:LCII - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. The firm had revenue of $915.50 million during the quarter, compared to analyst estimates of $922.85 million. During the same period last year, the firm posted $1.02 earnings per share. LCI Industries's revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, analysts predict that LCI Industries will post 5.51 EPS for the current year.

LCI Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors 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 was Friday, November 29th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.38%. LCI Industries's dividend payout ratio (DPR) is presently 89.49%.

Insider Buying and Selling

In other news, CEO Jason Lippert sold 10,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $126.00, for a total value of $1,260,000.00. Following the sale, the chief executive officer now owns 373,145 shares of the company's stock, valued at approximately $47,016,270. This represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LCII. StockNews.com cut LCI Industries from a "buy" rating to a "hold" rating in a research report on Tuesday, October 8th. Raymond James started coverage on LCI Industries in a research note on Tuesday, October 1st. They issued a "market perform" rating for the company. Finally, 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, September 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $112.20.

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.