Verition Fund Management LLC Sells 6,502 Shares of LCI Industries (NYSE:LCII)

Verition Fund Management LLC trimmed its position in LCI Industries (NYSE:LCII - Free Report) by 78.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,735 shares of the company's stock after selling 6,502 shares during the quarter. Verition Fund Management LLC's holdings in LCI Industries were worth $209,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its stake in LCI Industries by 1,289.3% in the 3rd quarter. Blue Trust Inc. now owns 389 shares of the company's stock worth $47,000 after purchasing an additional 361 shares during the period. GAMMA Investing LLC lifted its holdings in shares of LCI Industries by 98.2% in the third quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $66,000 after purchasing an additional 272 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of LCI Industries by 99.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the company's stock worth $77,000 after buying an additional 370 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of LCI Industries during the second quarter valued at $93,000. Finally, nVerses Capital LLC raised its position in LCI Industries by 7.7% during the second quarter. nVerses Capital LLC now owns 1,400 shares of the company's stock valued at $145,000 after buying an additional 100 shares during the period. 99.71% of the stock is owned by hedge funds and other institutional investors.

LCI Industries Stock Down 3.5 %

NYSE:LCII traded down $4.01 during mid-day trading on Monday, reaching $111.75. The stock had a trading volume of 262,965 shares, compared to its average volume of 225,851. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.88 and a quick ratio of 1.25. The stock has a market cap of $2.85 billion, a P/E ratio of 21.74 and a beta of 1.41. The business's 50 day moving average is $117.38 and its 200 day moving average is $113.20. LCI Industries has a fifty-two week low of $96.18 and a fifty-two week high of $131.36.

LCI Industries (NYSE:LCII - Get Free Report) last released its quarterly 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. The business had revenue of $915.50 million for the quarter, compared to the consensus estimate of $922.85 million. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. LCI Industries's revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 EPS. As a group, sell-side analysts predict that LCI Industries will post 5.51 earnings per share for the current year.

LCI Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, November 29th. This is an increase from LCI Industries's previous quarterly dividend of $1.05. LCI Industries's dividend payout ratio is 89.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LCII shares. Truist Financial raised their price objective on LCI Industries from $100.00 to $108.00 and gave the stock a "hold" rating in a research report on Friday, September 20th. StockNews.com cut shares of LCI Industries from a "buy" rating to a "hold" rating in a report on Tuesday, October 8th. Finally, Raymond James assumed coverage on shares of LCI Industries in a research note on Tuesday, October 1st. They issued a "market perform" rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $112.20.

Insider Activity

In other news, CEO Jason Lippert sold 10,000 shares of LCI Industries stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $126.00, for a total value of $1,260,000.00. Following the transaction, the chief executive officer now directly owns 373,145 shares in the company, valued at approximately $47,016,270. The trade was a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.50% of the stock is currently owned by insiders.

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.