Seven Eight Capital LP Trims Holdings in LCI Industries (NYSE:LCII)

Seven Eight Capital LP decreased its position in shares of LCI Industries (NYSE:LCII) by 44.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,297 shares of the company’s stock after selling 1,817 shares during the quarter. Seven Eight Capital LP’s holdings in LCI Industries were worth $237,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of LCI Industries by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 2,800,882 shares of the company’s stock valued at $344,677,000 after acquiring an additional 15,670 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in LCI Industries by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock valued at $114,945,000 after purchasing an additional 62,354 shares during the last quarter. Principal Financial Group Inc. grew its position in LCI Industries by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 609,232 shares of the company’s stock worth $74,972,000 after purchasing an additional 10,539 shares during the period. American Century Companies Inc. raised its stake in shares of LCI Industries by 30.5% during the 2nd quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock valued at $43,274,000 after buying an additional 97,877 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of LCI Industries in the 4th quarter valued at about $33,784,000. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Benchmark reaffirmed a “buy” rating and set a $130.00 target price on shares of LCI Industries in a report on Wednesday, August 7th. Truist Financial raised their price objective on shares of LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.67.

LCI Industries Stock Performance

NYSE LCII opened at $118.32 on Tuesday. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 32.15 and a beta of 1.41. The stock has a 50-day moving average of $114.48 and a 200 day moving average of $110.59. The company has a current ratio of 2.82, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. LCI Industries has a twelve month low of $96.18 and a twelve month high of $131.36.

LCI Industries (NYSE:LCII) last announced its earnings results on Tuesday, August 6th. The company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.24. LCI Industries had a return on equity of 8.85% and a net margin of 3.17%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the company posted $1.31 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Sell-side analysts anticipate that LCI Industries will post 6 EPS for the current fiscal year.

LCI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Friday, August 30th. LCI Industries’s payout ratio is 114.13%.

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.