Summit Global Investments Takes Position in LCI Industries (NYSE:LCII)

Summit Global Investments purchased a new position in LCI Industries (NYSE:LCII) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,196 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors have also added to or reduced their stakes in LCII. Benjamin F. Edwards & Company Inc. lifted its stake in LCI Industries by 532.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 373 shares of the company’s stock valued at $46,000 after acquiring an additional 314 shares during the period. LRI Investments LLC purchased a new stake in LCI Industries in the 1st quarter worth $46,000. Fidelis Capital Partners LLC purchased a new stake in LCI Industries in the 1st quarter worth $68,000. GAMMA Investing LLC purchased a new stake in LCI Industries in the 4th quarter worth $81,000. Finally, Eagle Bay Advisors LLC increased its holdings in LCI Industries by 88.4% in the 4th quarter. Eagle Bay Advisors LLC now owns 765 shares of the company’s stock worth $96,000 after acquiring an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LCII. Benchmark reaffirmed a “buy” rating and set a $130.00 target price on shares of LCI Industries in a report on Wednesday, August 7th. Roth Mkm boosted their price target on shares of LCI Industries from $100.00 to $103.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $109.00.

LCI Industries Stock Performance

Shares of LCII stock traded up $3.48 during trading hours on Wednesday, hitting $115.88. The stock had a trading volume of 59,404 shares, compared to its average volume of 237,314. The firm has a market capitalization of $2.95 billion, a PE ratio of 31.14 and a beta of 1.42. LCI Industries has a twelve month low of $96.18 and a twelve month high of $131.36. The stock’s 50 day moving average is $107.36 and its 200 day moving average is $111.06. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.86 and a quick ratio of 1.06.

LCI Industries (NYSE:LCII) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.24. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.05 billion. LCI Industries had a return on equity of 6.85% and a net margin of 2.47%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $1.31 earnings per share. As a group, research analysts forecast that LCI Industries will post 6.29 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Friday, August 30th. LCI Industries’s dividend payout ratio (DPR) is 114.13%.

About LCI Industries

LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments: Original Equipment Manufacturers (OEM) and Aftermarket.