Russell Investments Group Ltd. Sells 3,948 Shares of LCI Industries (LCII)
Russell Investments Group Ltd. reduced its position in LCI Industries (NASDAQ:LCII) by 41.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,615 shares of the company’s stock after selling 3,948 shares during the quarter. Russell Investments Group Ltd.’s holdings in LCI Industries were worth $575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of analysts have issued reports on LCII shares. Robert W. Baird reissued a “buy” rating and issued a $115.00 target price on shares of LCI Industries in a research report on Friday, August 25th. Zacks Investment Research raised LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Wednesday, July 5th. Finally, BidaskClub raised LCI Industries from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $112.33.
Shares of LCI Industries (LCII) traded up 0.52% during trading on Tuesday, hitting $106.40. The stock had a trading volume of 19,724 shares. LCI Industries has a 1-year low of $80.65 and a 1-year high of $117.15. The firm has a market capitalization of $2.65 billion and a P/E ratio of 19.21. The stock’s 50-day moving average price is $99.61 and its 200 day moving average price is $98.80.
LCI Industries (NASDAQ:LCII) last announced its earnings results on Friday, August 4th. The company reported $1.59 EPS for the quarter, topping the Zacks’ 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 company had revenue of $547.00 million for the quarter, compared to analysts’ expectations of $507.56 million. LCI Industries’s quarterly revenue was up 24.0% on a year-over-year basis. On average, analysts anticipate that LCI Industries will post $5.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.89%.
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In related news, insider Nick C. Fletcher sold 1,617 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $105.44, for a total value of $170,496.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Scott T. Mereness bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average cost of $94.50 per share, for a total transaction of $283,500.00. Following the completion of the acquisition, the president now owns 204,824 shares in the company, 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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