Raymond James Financial Services Advisors Inc. Grows Position in LCI Industries (NYSE:LCII)

Raymond James Financial Services Advisors Inc. grew its stake in shares of LCI Industries (NYSE:LCII – Get Rating) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,407 shares of the company’s stock after purchasing an additional 369 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in LCI Industries were worth $954,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LCII. Kayne Anderson Rudnick Investment Management LLC lifted its stake in LCI Industries by 56.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,117,161 shares of the company’s stock worth $236,868,000 after acquiring an additional 765,835 shares during the period. Parallax Volatility Advisers L.P. purchased a new stake in LCI Industries in the second quarter worth $55,940,000. Renaissance Technologies LLC purchased a new stake in LCI Industries in the first quarter worth $7,900,000. Nordea Investment Management AB lifted its stake in LCI Industries by 51.1% in the third quarter. Nordea Investment Management AB now owns 101,751 shares of the company’s stock worth $10,283,000 after acquiring an additional 34,394 shares during the period. Finally, Royce & Associates LP lifted its stake in LCI Industries by 9.8% in the second quarter. Royce & Associates LP now owns 380,445 shares of the company’s stock worth $42,564,000 after acquiring an additional 34,070 shares during the period. Hedge funds and other institutional investors own 99.19% of the company’s stock.

LCI Industries Price Performance

Shares of NYSE:LCII opened at $103.14 on Friday. LCI Industries has a 1-year low of $89.28 and a 1-year high of $139.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.01 and a quick ratio of 0.85. The business has a fifty day moving average price of $99.30 and a 200-day moving average price of $109.04. The company has a market capitalization of $2.62 billion, a PE ratio of 5.32 and a beta of 1.35.

LCI Industries (NYSE:LCII – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.03). LCI Industries had a net margin of 8.95% and a return on equity of 38.25%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.17 billion. As a group, equities analysts expect that LCI Industries will post 17.26 EPS for the current fiscal year.

LCI Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were issued a dividend of $1.05 per share. The ex-dividend date was Thursday, December 1st. This represents a $4.20 annualized dividend and a dividend yield of 4.07%. LCI Industries’s payout ratio is presently 21.66%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LCII shares. StockNews.com downgraded LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, November 8th. Robert W. Baird decreased their price objective on LCI Industries from $155.00 to $130.00 in a report on Wednesday, November 2nd. DA Davidson decreased their price objective on LCI Industries from $131.00 to $107.00 in a report on Wednesday, November 2nd. Truist Financial decreased their price objective on LCI Industries from $135.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, October 5th. Finally, Jefferies Financial Group downgraded LCI Industries from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $120.00 to $95.00 in a report on Friday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $118.80.

LCI Industries Profile

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LCI Industries engages in the manufacture, supply, and distribution of components for the original equipment manufacturers (OEM) of recreational vehicles and manufactured homes. It operates through the OEM and Aftermarket segments. The OEM segment offers components for buses, trailers used to haul boats, livestock, equipment and other cargo, trucks, pontoon boats, trains, manufactured homes, and modular housing.