Franklin Resources Inc. Buys 31,376 Shares of LCI Industries (NYSE:LCII)

Franklin Resources Inc. raised its stake in LCI Industries (NYSE:LCII) by 11.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 317,439 shares of the company’s stock after buying an additional 31,376 shares during the quarter. Franklin Resources Inc.’s holdings in LCI Industries were worth $37,607,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LCII. SG Americas Securities LLC lifted its position in shares of LCI Industries by 155.6% during the second quarter. SG Americas Securities LLC now owns 3,819 shares of the company’s stock valued at $395,000 after purchasing an additional 2,325 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of LCI Industries by 6.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,677 shares of the company’s stock worth $277,000 after buying an additional 169 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of LCI Industries by 11.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 19,845 shares of the company’s stock worth $2,052,000 after buying an additional 1,970 shares during the last quarter. Summit Global Investments bought a new position in shares of LCI Industries in the second quarter valued at approximately $227,000. Finally, Louisiana State Employees Retirement System increased its position in shares of LCI Industries by 2.4% during the second quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock valued at $1,323,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 99.71% of the company’s stock.

Insider Transactions at LCI Industries

In other news, CEO Jason Lippert sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $126.00, for a total value of $1,260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 373,145 shares in the company, valued at approximately $47,016,270. This trade represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.50% of the company’s stock.

LCI Industries Trading Down 4.5 %

Shares of LCII opened at $105.79 on Thursday. The firm has a market cap of $2.69 billion, a P/E ratio of 20.58 and a beta of 1.41. LCI Industries has a fifty-two week low of $96.18 and a fifty-two week high of $131.36. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 2.88. The business has a 50-day moving average of $116.90 and a 200 day moving average of $113.17.

LCI Industries (NYSE:LCII) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. The company had revenue of $915.50 million for the quarter, compared to analyst estimates of $922.85 million. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 earnings per share. As a group, research analysts forecast that LCI Industries will post 5.51 EPS for the current year.

LCI Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $4.60 annualized dividend and a dividend yield of 4.35%. This is an increase from LCI Industries’s previous quarterly dividend of $1.05. LCI Industries’s dividend payout ratio is currently 89.49%.

Wall Street Analysts Forecast Growth

LCII has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Friday, September 20th. StockNews.com lowered shares of LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Raymond James initiated coverage on shares of LCI Industries in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, LCI Industries currently has a consensus rating of “Hold” and a consensus target price of $112.20.

LCI Industries Profile

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.