Tygh Capital Management Inc. acquired a new stake in shares of LCI Industries (NASDAQ:LCII) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 35,897 shares of the company’s stock, valued at approximately $3,676,000. Tygh Capital Management Inc. owned about 0.14% of LCI Industries at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LCII. Victory Capital Management Inc. raised its position in LCI Industries by 30.8% in the second quarter. Victory Capital Management Inc. now owns 397,152 shares of the company’s stock valued at $40,668,000 after buying an additional 93,465 shares in the last quarter. Virginia Retirement Systems ET AL raised its position in LCI Industries by 10.8% in the second quarter. Virginia Retirement Systems ET AL now owns 26,600 shares of the company’s stock valued at $2,724,000 after buying an additional 2,600 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in LCI Industries by 1.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 14,301 shares of the company’s stock valued at $1,464,000 after buying an additional 180 shares in the last quarter. Redwood Investments LLC raised its position in LCI Industries by 12.4% in the second quarter. Redwood Investments LLC now owns 80,974 shares of the company’s stock valued at $8,292,000 after buying an additional 8,953 shares in the last quarter. Finally, Fortaleza Asset Management Inc. bought a new position in LCI Industries during the second quarter valued at $144,000.
LCI Industries (NASDAQ:LCII) opened at 94.85 on Friday. The stock’s 50 day moving average is $100.22 and its 200 day moving average is $99.92. LCI Industries has a 52 week low of $80.65 and a 52 week high of $117.15. The firm has a market cap of $2.36 billion and a price-to-earnings ratio of 17.13.
LCI Industries (NASDAQ:LCII) last issued its quarterly earnings data on Friday, August 4th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.03. LCI Industries had a return on equity of 26.74% and a net margin of 7.33%. The business had revenue of $547 million for the quarter, compared to analysts’ expectations of $507.56 million. LCI Industries’s revenue for the quarter was up 24.0% on a year-over-year basis. Equities research analysts expect that LCI Industries will post $5.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, August 16th.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of LCI Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Robert W. Baird assumed coverage on shares of LCI Industries in a research note on Wednesday, May 3rd. They set an “outperform” rating and a $118.00 price target on the stock.
In other LCI Industries news, Director David A. Reed sold 2,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $101.29, for a total transaction of $202,580.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nick C. Fletcher sold 1,617 shares of the firm’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $105.44, for a total value of $170,496.48. The disclosure for this sale can be found here.
About LCI Industries
LCI Industries, formerly Drew Industries Incorporated, through its subsidiary, Lippert Components, Inc and its subsidiaries (LCI), supplies an array of components for the original equipment manufacturers (OEMs) of recreational vehicles (RVs) and adjacent industries. The Company’s segments include OEM Segment and Aftermarket Segment.
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