Hood River Capital Management LLC reduced its position in LCI Industries (NYSE:LCII) by 27.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,063 shares of the company’s stock after selling 24,789 shares during the period. Hood River Capital Management LLC owned approximately 0.26% of LCI Industries worth $7,538,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Bruderman Asset Management LLC acquired a new stake in shares of LCI Industries in the 2nd quarter valued at about $122,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of LCI Industries in the 2nd quarter valued at about $124,000. Riverhead Capital Management LLC raised its stake in shares of LCI Industries by 74.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,399 shares of the company’s stock valued at $143,000 after purchasing an additional 599 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new stake in shares of LCI Industries in the 2nd quarter valued at about $144,000. Finally, Pitcairn Co. acquired a new stake in shares of LCI Industries in the 3rd quarter valued at about $200,000. 98.95% of the stock is owned by institutional investors.
LCI Industries (LCII) traded up $2.80 on Friday, reaching $117.85. 109,300 shares of the company traded hands, compared to its average volume of 159,240. The firm has a market capitalization of $2,883.11, a price-to-earnings ratio of 20.61 and a beta of 1.28. LCI Industries has a 52-week low of $86.25 and a 52-week high of $129.20. The company has a current ratio of 2.19, a quick ratio of 1.03 and a debt-to-equity ratio of 0.08.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.20 annualized dividend and a yield of 1.87%. LCI Industries’s dividend payout ratio (DPR) is 35.65%.
LCII has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on shares of LCI Industries from $115.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Zacks Investment Research lowered shares of LCI Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Finally, BidaskClub upgraded shares of LCI Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. LCI Industries presently has a consensus rating of “Hold” and a consensus price target of $121.00.
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In other LCI Industries news, CEO Jason Lippert sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $114.80, for a total value of $1,722,000.00. Following the sale, the chief executive officer now owns 164,744 shares in the company, valued at $18,912,611.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jamie Schnur sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $115.46, for a total transaction of $127,006.00. Following the completion of the sale, the insider now owns 6,347 shares in the company, valued at approximately $732,824.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,210 shares of company stock worth $2,886,934. 3.60% of the stock is owned by company insiders.
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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