Neuberger Berman Group LLC Boosts Stake in LCI Industries (NYSE:LCII)
Neuberger Berman Group LLC raised its holdings in LCI Industries (NYSE:LCII) by 0.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,388,311 shares of the company’s stock after purchasing an additional 11,867 shares during the quarter. Neuberger Berman Group LLC owned 5.52% of LCI Industries worth $159,472,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Rockefeller Capital Management L.P. grew its stake in LCI Industries by 310.7% during the 1st quarter. Rockefeller Capital Management L.P. now owns 497 shares of the company’s stock worth $33,000 after purchasing an additional 376 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in shares of LCI Industries in the 2nd quarter valued at about $79,000. Permanens Capital L.P. boosted its position in shares of LCI Industries by 72.7% in the 1st quarter. Permanens Capital L.P. now owns 950 shares of the company’s stock valued at $63,000 after purchasing an additional 400 shares during the period. Cullen Frost Bankers Inc. boosted its position in shares of LCI Industries by 37.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,100 shares of the company’s stock valued at $126,000 after purchasing an additional 300 shares during the period. Finally, Mutual of America Capital Management LLC boosted its position in shares of LCI Industries by 23.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 1,107 shares of the company’s stock valued at $74,000 after purchasing an additional 207 shares during the period. Institutional investors own 93.78% of the company’s stock.
Several analysts have commented on LCII shares. CJS Securities downgraded LCI Industries to a “hold” rating in a research note on Tuesday, June 16th. CL King upped their price objective on LCI Industries from $121.00 to $134.00 in a research note on Wednesday, July 15th. TheStreet raised LCI Industries from a “c” rating to a “b-” rating in a research note on Wednesday, May 27th. Finally, Citigroup increased their target price on LCI Industries from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $112.50.
LCI Industries (NYSE:LCII) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.40. LCI Industries had a return on equity of 13.89% and a net margin of 4.54%. The firm had revenue of $525.80 million during the quarter, compared to the consensus estimate of $523.45 million. During the same period last year, the business posted $1.89 EPS. LCI Industries’s quarterly revenue was down 16.4% on a year-over-year basis. As a group, analysts predict that LCI Industries will post 5.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $0.75 dividend. This is an increase from LCI Industries’s previous quarterly dividend of $0.65. This represents a $3.00 annualized dividend and a yield of 2.84%. The ex-dividend date is Thursday, September 3rd. LCI Industries’s dividend payout ratio (DPR) is presently 51.37%.
In related news, EVP Nick C. Fletcher sold 1,818 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $127.66, for a total value of $232,085.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.90% of the company’s stock.
About LCI Industries
LCI Industries, together with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures or distributes various components for the OEMs of RVs and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; travel trailers, fifth-wheel travel trailers, folding camping trailers, and truck campers; trucks; pontoon boats; trains; manufactured homes; and modular housing.
See Also: What can cause a stock to outperform?
Want to see what other hedge funds are holding LCII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LCI Industries (NYSE:LCII).
Receive News & Ratings for LCI Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LCI Industries and related companies with MarketBeat.com's FREE daily email newsletter.