Columbus Circle Investors Acquires New Stake in LCI Industries (LCII)
Columbus Circle Investors acquired a new stake in LCI Industries (NYSE:LCII) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 34,313 shares of the company’s stock, valued at approximately $3,975,000. Columbus Circle Investors owned about 0.14% of LCI Industries at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Bruderman Asset Management LLC purchased a new stake in shares of LCI Industries in the 2nd quarter valued at approximately $122,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of LCI Industries in the 2nd quarter valued at approximately $124,000. Riverhead Capital Management LLC increased its position in shares of 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 purchasing an additional 599 shares during the last quarter. Fortaleza Asset Management Inc. purchased a new stake in shares of LCI Industries in the 2nd quarter valued at approximately $144,000. Finally, LSV Asset Management purchased a new stake in shares of LCI Industries in the 2nd quarter valued at approximately $194,000. 97.44% of the stock is currently owned by institutional investors.
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Shares of LCI Industries (LCII) traded up $2.70 during trading on Tuesday, hitting $121.15. 125,500 shares of the stock traded hands, compared to its average volume of 158,825. LCI Industries has a fifty-two week low of $86.25 and a fifty-two 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 firm has a market cap of $2,954.19, a PE ratio of 21.11 and a beta of 1.28.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Thursday, November 16th. LCI Industries’s payout ratio is 39.22%.
In related news, insider Jamie Schnur sold 1,100 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $115.46, for a total transaction of $127,006.00. Following the completion of the sale, the insider now owns 6,347 shares in the company, valued at approximately $732,824.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jason Lippert sold 7,500 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $113.65, for a total transaction of $852,375.00. Following the sale, the chief executive officer now owns 164,744 shares of the company’s stock, valued at approximately $18,723,155.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,210 shares of company stock valued at $2,886,934. Company insiders own 3.60% of the company’s stock.
A number of brokerages have commented on LCII. BidaskClub raised shares of LCI Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 27th. Zacks Investment Research downgraded shares of LCI Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, Robert W. Baird increased their price objective on shares of LCI Industries from $115.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $121.00.
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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