Bank of New York Mellon Corp Buys 80,784 Shares of LCI Industries (NYSE:LCII)

Bank of New York Mellon Corp raised its stake in shares of LCI Industries (NYSE:LCII - Free Report) by 29.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 357,629 shares of the company's stock after acquiring an additional 80,784 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.40% of LCI Industries worth $36,975,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in shares of LCI Industries by 1.8% during the fourth quarter. Principal Financial Group Inc. now owns 643,507 shares of the company's stock valued at $66,536,000 after acquiring an additional 11,286 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of LCI Industries by 2.5% during the third quarter. Victory Capital Management Inc. now owns 621,218 shares of the company's stock valued at $74,882,000 after acquiring an additional 14,969 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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. Charles Schwab Investment Management Inc. increased its stake in shares of LCI Industries by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 411,278 shares of the company's stock valued at $49,575,000 after buying an additional 29,192 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of LCI Industries by 22.5% in the third quarter. Royce & Associates LP now owns 374,037 shares of the company's stock valued at $45,086,000 after buying an additional 68,682 shares in the last quarter. 99.71% of the stock is owned by institutional investors.

Remove Ads

LCI Industries Trading Down 1.5 %

LCII stock traded down $1.52 during midday trading on Friday, reaching $98.31. The stock had a trading volume of 333,890 shares, compared to its average volume of 224,891. The business has a fifty day simple moving average of $104.36 and a two-hundred day simple moving average of $112.06. The company has a quick ratio of 1.03, a current ratio of 2.82 and a debt-to-equity ratio of 0.55. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 17.56 and a beta of 1.45. LCI Industries has a twelve month low of $95.09 and a twelve month high of $129.38.

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

LCI Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $1.15 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.60 dividend on an annualized basis and a yield of 4.68%. LCI Industries's payout ratio is 82.14%.

Analyst Ratings Changes

LCII has been the subject of a number of research reports. StockNews.com lowered LCI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th. Truist Financial raised their target price on LCI Industries from $102.00 to $108.00 and gave the company a "hold" rating in a research note on Monday, February 10th. Finally, CJS Securities upgraded LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 target price for the company in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $121.50.

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.