SG Capital Management LLC Purchases New Position in LCI Industries (LCII)
SG Capital Management LLC purchased a new position in shares of LCI Industries (NYSE:LCII) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 109,293 shares of the company’s stock, valued at approximately $14,208,000. LCI Industries accounts for approximately 2.8% of SG Capital Management LLC’s investment portfolio, making the stock its 8th largest holding.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Mountain Capital Investment Advisors Inc purchased a new stake in LCI Industries in the 2nd quarter valued at about $124,000. Riverhead Capital Management LLC boosted its position in LCI Industries by 74.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,399 shares of the company’s stock valued at $143,000 after buying an additional 599 shares during the period. Zions Bancorporation purchased a new stake in LCI Industries in the 3rd quarter valued at about $187,000. Pitcairn Co. purchased a new stake in LCI Industries in the 3rd quarter valued at about $200,000. Finally, M&T Bank Corp purchased a new stake in LCI Industries in the 2nd quarter valued at about $203,000. 98.09% of the stock is owned by hedge funds and other institutional investors.
LCI Industries (NYSE LCII) traded down $9.45 during trading hours on Friday, hitting $115.35. 456,845 shares of the stock traded hands, compared to its average volume of 126,501. LCI Industries has a twelve month low of $86.25 and a twelve month high of $132.73. 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 company has a market cap of $3,199.80, a price-to-earnings ratio of 21.93 and a beta of 1.28.
Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of LCI Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Robert W. Baird reissued a “buy” rating and issued a $135.00 price objective on shares of LCI Industries in a research report on Friday, December 22nd. BidaskClub raised shares of LCI Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 27th. Finally, Northcoast Research assumed coverage on shares of LCI Industries in a research report on Friday. They issued a “sell” rating and a $94.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $112.75.
In related news, CEO Jason Lippert sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $127.22, for a total transaction of $954,150.00. Following the completion of the transaction, the chief executive officer now owns 151,735 shares in the company, valued at approximately $19,303,726.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Scott T. Mereness acquired 1,500 shares of LCI Industries stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average price of $114.00 per share, with a total value of $171,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 11,487 shares of company stock valued at $1,464,242. Company insiders own 3.60% of the company’s stock.
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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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