Creative Planning Cuts Holdings in LCI Industries (NYSE:LCII)

Creative Planning lessened its stake in LCI Industries (NYSE:LCII) by 53.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,733 shares of the company’s stock after selling 3,102 shares during the quarter. Creative Planning’s holdings in LCI Industries were worth $283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Algert Global LLC acquired a new stake in LCI Industries in the second quarter valued at approximately $264,000. SkyView Investment Advisors LLC raised its holdings in shares of LCI Industries by 14.2% in the 2nd quarter. SkyView Investment Advisors LLC now owns 4,926 shares of the company’s stock valued at $509,000 after purchasing an additional 611 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of LCI Industries by 2.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,071 shares of the company’s stock valued at $1,351,000 after purchasing an additional 297 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of LCI Industries during the 2nd quarter worth $93,000. Finally, Squarepoint Ops LLC grew its stake in shares of LCI Industries by 13.0% during the second quarter. Squarepoint Ops LLC now owns 15,494 shares of the company’s stock worth $1,602,000 after purchasing an additional 1,786 shares in the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on LCII. Raymond James assumed coverage on LCI Industries in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Benchmark reaffirmed a “buy” rating and set a $130.00 price objective on shares of LCI Industries in a report on Wednesday, August 7th. Truist Financial lifted their price target on LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, StockNews.com downgraded LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, LCI Industries currently has a consensus rating of “Hold” and a consensus price target of $112.20.

LCI Industries Stock Up 0.3 %

LCI Industries stock opened at $123.41 on Friday. The stock has a 50 day moving average of $117.23 and a two-hundred day moving average of $111.17. LCI Industries has a twelve month low of $96.18 and a twelve month high of $131.36. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 33.54 and a beta of 1.41. 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 (NYSE:LCII) last issued its quarterly 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. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. LCI Industries had a return on equity of 8.85% and a net margin of 3.17%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company earned $1.31 earnings per share. As a group, research analysts expect that LCI Industries will post 5.97 earnings per share for the current year.

LCI Industries Announces Dividend

The company 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. This represents a $4.20 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Friday, August 30th. LCI Industries’s payout ratio is 114.13%.

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.