Millennium Management LLC Reduces Holdings in LCI Industries (NYSE:LCII)

Millennium Management LLC reduced its position in shares of LCI Industries (NYSE:LCII - Free Report) by 99.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,827 shares of the company's stock after selling 7,969,682 shares during the quarter. Millennium Management LLC owned 0.13% of LCI Industries worth $3,497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of LCI Industries during the second quarter valued at $93,000. Squarepoint Ops LLC boosted its holdings in shares of LCI Industries by 13.0% during the 2nd quarter. Squarepoint Ops LLC now owns 15,494 shares of the company's stock valued at $1,602,000 after acquiring an additional 1,786 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of LCI Industries during the second quarter valued at approximately $2,454,000. Public Sector Pension Investment Board lifted its position in LCI Industries by 7.9% during the second quarter. Public Sector Pension Investment Board now owns 56,004 shares of the company's stock valued at $5,790,000 after purchasing an additional 4,091 shares during the period. Finally, Sei Investments Co. grew its position in LCI Industries by 0.7% in the 2nd quarter. Sei Investments Co. now owns 33,101 shares of the company's stock worth $3,422,000 after purchasing an additional 233 shares during the period. Institutional investors own 99.71% of the company's stock.

LCI Industries Price Performance

NYSE LCII traded up $1.05 during trading hours on Monday, reaching $118.47. The company's stock had a trading volume of 138,872 shares, compared to its average volume of 228,116. LCI Industries has a 1 year low of $96.18 and a 1 year high of $131.36. The company has a quick ratio of 1.23, a current ratio of 2.82 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 31.88 and a beta of 1.41. The firm's 50-day moving average price is $116.10 and its 200-day moving average price is $111.03.

LCI Industries (NYSE:LCII - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.16 by $0.24. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. LCI Industries had a net margin of 3.17% and a return on equity of 8.85%. The company's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 earnings per share. On average, equities research analysts predict that LCI Industries will post 5.97 EPS for the current fiscal year.

LCI Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $1.05 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.55%. LCI Industries's dividend payout ratio (DPR) is presently 114.13%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LCII shares. Truist Financial lifted their price objective on LCI Industries from $100.00 to $108.00 and gave the stock a "hold" rating in a report on Friday, September 20th. Benchmark restated a "buy" rating and set a $130.00 price target on shares of LCI Industries in a research note on Wednesday, August 7th. Raymond James began coverage on shares of LCI Industries in a research note on Tuesday, October 1st. They issued a "market perform" rating on the stock. Finally, StockNews.com cut shares of LCI Industries from a "buy" rating to a "hold" rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, LCI Industries currently has an average rating of "Hold" and a consensus price target of $112.20.

LCI Industries Company 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.