LCI Industries (LCII) Plans Dividend Increase – $0.55 Per Share
LCI Industries (NASDAQ:LCII) declared a quarterly dividend on Tuesday, November 7th, Wall Street Journal reports. Stockholders of record on Friday, November 17th will be paid a dividend of 0.55 per share on Friday, December 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, November 16th. This is a positive change from LCI Industries’s previous quarterly dividend of $0.50.
LCI Industries (LCII) traded down $1.11 on Wednesday, hitting $114.44. 4,795 shares of the company were exchanged, compared to its average volume of 165,038. LCI Industries has a twelve month low of $86.25 and a twelve month high of $129.20.
LCII has been the subject of a number of recent research reports. BidaskClub raised shares of LCI Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 3rd. Zacks Investment Research downgraded shares of LCI Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, Robert W. Baird reissued a “buy” rating and set a $115.00 price target on shares of LCI Industries in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. LCI Industries presently has a consensus rating of “Hold” and a consensus target price of $114.67.
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In other news, President Scott T. Mereness bought 3,000 shares of the stock in a transaction on Thursday, August 10th. The stock was purchased at an average price of $94.50 per share, with a total value of $283,500.00. Following the completion of the purchase, the president now owns 204,824 shares of the company’s stock, valued at $19,355,868. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jason Lippert sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $113.65, for a total transaction of $852,375.00. Following the completion of the sale, the chief executive officer now directly owns 164,744 shares of the company’s stock, valued at approximately $18,723,155.60. The disclosure for this sale can be found here. Insiders sold 25,210 shares of company stock valued at $2,886,934 in the last ninety days.
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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