Victory Capital Management Inc. Raises Stake in LCI Industries (LCII)
Victory Capital Management Inc. boosted its position in LCI Industries (NASDAQ:LCII) by 30.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 397,152 shares of the company’s stock after buying an additional 93,465 shares during the period. Victory Capital Management Inc. owned approximately 1.59% of LCI Industries worth $40,668,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. purchased a new position in LCI Industries during the second quarter worth approximately $144,000. Teacher Retirement System of Texas purchased a new position in LCI Industries during the second quarter worth approximately $202,000. New Jersey Better Educational Savings Trust purchased a new position in LCI Industries during the second quarter worth approximately $410,000. Catalyst Capital Advisors LLC increased its position in LCI Industries by 122.2% in the second quarter. Catalyst Capital Advisors LLC now owns 4,000 shares of the company’s stock worth $410,000 after buying an additional 2,200 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in LCI Industries by 113.9% in the second quarter. SG Americas Securities LLC now owns 4,436 shares of the company’s stock worth $454,000 after buying an additional 2,362 shares in the last quarter.
Shares of LCI Industries (LCII) opened at 99.40 on Wednesday. The firm’s 50-day moving average price is $100.10 and its 200-day moving average price is $99.82. LCI Industries has a 12 month low of $80.65 and a 12 month high of $117.15. The company has a market cap of $2.48 billion and a PE ratio of 17.95.
LCI Industries (NASDAQ:LCII) last issued its quarterly earnings results on Friday, August 4th. The company reported $1.59 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.03. The company had revenue of $547 million during the quarter, compared to the consensus estimate of $507.56 million. LCI Industries had a return on equity of 26.74% and a net margin of 7.33%. LCI Industries’s revenue was up 24.0% compared to the same quarter last year. Equities analysts predict that LCI Industries will post $5.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Wednesday, August 16th.
A number of research firms recently commented on LCII. Zacks Investment Research upgraded LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Wednesday, July 5th. Robert W. Baird restated a “buy” rating and issued a $115.00 price objective on shares of LCI Industries in a report on Friday, August 25th.
In related news, Director David A. Reed sold 2,000 shares of the stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Scott T. Mereness purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $94.50 per share, with a total value of $283,500.00. Following the completion of the transaction, the president now directly owns 204,824 shares of the company’s stock, valued at approximately $19,355,868. The disclosure for this purchase 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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