Scott T. Mereness Acquires 1,500 Shares of LCI Industries (LCII) Stock
LCI Industries (NYSE:LCII) President Scott T. Mereness purchased 1,500 shares of LCI Industries stock in a transaction on Thursday, November 9th. The shares were acquired at an average price of $114.00 per share, for a total transaction of $171,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
LCI Industries (LCII) traded down $0.65 during trading hours on Thursday, hitting $115.60. The stock had a trading volume of 102,900 shares, compared to its average volume of 159,466. The stock has a market capitalization of $2,899.32, a price-to-earnings ratio of 20.72 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 debt-to-equity ratio of 0.08, a quick ratio of 1.03 and a current ratio of 2.19.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Thursday, November 16th. LCI Industries’s dividend payout ratio (DPR) is presently 35.65%.
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LCII has been the topic of a number of recent research reports. BidaskClub cut shares of LCI Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 12th. Robert W. Baird reiterated a “buy” rating and set a $115.00 price target on shares of LCI Industries in a research report on Thursday, September 28th. Finally, Zacks Investment Research cut shares of LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. LCI Industries presently has a consensus rating of “Hold” and an average price target of $121.00.
Large investors have recently added to or reduced their stakes in the company. Bruderman Asset Management LLC purchased a new stake in shares of LCI Industries during the second quarter valued at approximately $122,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of LCI Industries during the second quarter valued at approximately $124,000. Riverhead Capital Management LLC boosted its stake in shares of LCI Industries by 74.9% during the second 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 during the period. Fortaleza Asset Management Inc. purchased a new stake in shares of LCI Industries during the second quarter valued at approximately $144,000. Finally, Zions Bancorporation purchased a new stake in shares of LCI Industries during the third quarter valued at approximately $187,000. 98.95% of the stock is owned by hedge funds and other institutional investors.
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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