Kayne Anderson Rudnick Investment Management LLC Cuts Stake in LCI Industries (NYSE:LCII)

Kayne Anderson Rudnick Investment Management LLC lessened its position in shares of LCI Industries (NYSE:LCII - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,235,154 shares of the company's stock after selling 179,743 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 8.78% of LCI Industries worth $231,093,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of LCI Industries during the 4th quarter worth $26,402,000. Royce & Associates LP raised its stake in shares of LCI Industries by 46.1% in the 4th quarter. Royce & Associates LP now owns 546,623 shares of the company's stock valued at $56,515,000 after acquiring an additional 172,586 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of LCI Industries by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company's stock worth $127,904,000 after acquiring an additional 87,764 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of LCI Industries by 29.2% during the 4th quarter. Bank of New York Mellon Corp now owns 357,629 shares of the company's stock worth $36,975,000 after purchasing an additional 80,784 shares during the period. Finally, Vanguard Group Inc. increased its holdings in LCI Industries by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 2,913,270 shares of the company's stock valued at $301,203,000 after purchasing an additional 56,794 shares during the last quarter. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. CJS Securities upgraded LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 price target for the company in a research report on Wednesday, February 12th. Baird R W downgraded LCI Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Truist Financial reduced their price target on shares of LCI Industries from $108.00 to $80.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. StockNews.com cut shares of LCI Industries from a "buy" rating to a "hold" rating in a report on Thursday, April 10th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $100.00 price target (down previously from $130.00) on shares of LCI Industries in a research report on Friday, April 4th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $111.60.

LCI Industries Stock Down 2.1 %

Shares of NYSE:LCII traded down $1.67 during trading on Friday, hitting $78.33. 270,315 shares of the company were exchanged, compared to its average volume of 286,965. LCI Industries has a 12-month low of $72.31 and a 12-month high of $129.38. The stock has a market capitalization of $1.98 billion, a P/E ratio of 14.00 and a beta of 1.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.82 and a quick ratio of 1.03. The firm's 50 day moving average price is $89.48 and its 200-day moving average price is $103.78.

LCI Industries (NYSE:LCII - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.06. LCI Industries had a net margin of 3.82% and a return on equity of 10.28%. On average, research analysts predict that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 5.87%. The ex-dividend date was Friday, March 7th. LCI Industries's dividend payout ratio is presently 82.14%.

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.