LCI Industries (LCII) Holdings Lifted by Bank of New York Mellon Corp
Bank of New York Mellon Corp grew its stake in shares of LCI Industries (NASDAQ:LCII) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,135 shares of the company’s stock after acquiring an additional 3,550 shares during the period. Bank of New York Mellon Corp owned about 1.87% of LCI Industries worth $47,632,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Alps Advisors Inc. grew its holdings in LCI Industries by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 4,695 shares of the company’s stock worth $481,000 after acquiring an additional 13 shares in the last quarter. Arizona State Retirement System grew its holdings in LCI Industries by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 12,998 shares of the company’s stock worth $1,331,000 after acquiring an additional 100 shares in the last quarter. Texas Permanent School Fund grew its holdings in LCI Industries by 1.4% during the 2nd quarter. Texas Permanent School Fund now owns 18,183 shares of the company’s stock worth $1,862,000 after acquiring an additional 259 shares in the last quarter. Congress Asset Management Co. MA grew its holdings in LCI Industries by 11.4% during the 2nd quarter. Congress Asset Management Co. MA now owns 14,950 shares of the company’s stock worth $1,531,000 after acquiring an additional 1,534 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in LCI Industries by 4.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 35,853 shares of the company’s stock worth $3,667,000 after acquiring an additional 1,569 shares in the last quarter.
LCI Industries (LCII) opened at 99.20 on Tuesday. LCI Industries has a 52-week low of $80.65 and a 52-week high of $117.15. The company has a market capitalization of $2.47 billion and a P/E ratio of 17.91. The stock has a 50 day moving average of $99.98 and a 200-day moving average of $99.47.
LCI Industries (NASDAQ:LCII) last posted its earnings results on Friday, August 4th. The company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.03. LCI Industries had a net margin of 7.33% and a return on equity of 26.74%. The business had revenue of $547 million for the quarter, compared to analyst estimates of $507.56 million. The company’s revenue was up 24.0% on a year-over-year basis. On average, equities analysts forecast that LCI Industries will post $5.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Wednesday, August 16th.
In related news, insider Nick C. Fletcher sold 1,617 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $105.44, for a total transaction of $170,496.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Scott T. Mereness purchased 3,000 shares of LCI Industries stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $94.50 per share, for a total transaction of $283,500.00. Following the transaction, the president now owns 204,824 shares in the company, valued at $19,355,868. The disclosure for this purchase can be found here.
LCII has been the subject of several recent analyst reports. Zacks Investment Research raised shares of LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Wednesday, July 5th. Robert W. Baird reissued a “buy” rating and set a $115.00 price objective on shares of LCI Industries in a report on Friday, August 25th.
LCI Industries Company Profile
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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