Bank of Montreal Can Has $23 Million Holdings in LCI Industries (NYSE:LCII)

Bank of Montreal Can lessened its stake in shares of LCI Industries (NYSE:LCII) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 191,630 shares of the company’s stock after selling 3,612 shares during the quarter. Bank of Montreal Can’s holdings in LCI Industries were worth $23,003,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. acquired a new position in LCI Industries during the first quarter valued at approximately $204,000. Tidal Investments LLC boosted its holdings in shares of LCI Industries by 11.5% during the 1st quarter. Tidal Investments LLC now owns 3,929 shares of the company’s stock worth $484,000 after buying an additional 405 shares during the period. Comerica Bank grew its stake in LCI Industries by 24.1% in the 1st quarter. Comerica Bank now owns 31,784 shares of the company’s stock valued at $3,911,000 after buying an additional 6,174 shares during the last quarter. LRI Investments LLC bought a new position in LCI Industries in the 1st quarter worth $46,000. Finally, HM Payson & Co. lifted its position in LCI Industries by 6.4% during the 1st quarter. HM Payson & Co. now owns 1,755 shares of the company’s stock worth $216,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.

LCI Industries Price Performance

Shares of NYSE:LCII opened at $120.81 on Friday. The firm has a market capitalization of $3.08 billion, a PE ratio of 23.50 and a beta of 1.41. The company has a current ratio of 2.88, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. LCI Industries has a 1-year low of $96.18 and a 1-year high of $131.36. The business’s 50 day moving average is $117.60 and its 200-day moving average is $112.54.

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

LCI Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $1.15 dividend. The ex-dividend date is Friday, November 29th. This represents a $4.60 dividend on an annualized basis and a yield of 3.81%. This is a boost from LCI Industries’s previous quarterly dividend of $1.05. LCI Industries’s payout ratio is presently 81.71%.

Insider Buying and Selling

In other LCI Industries news, CEO Jason Lippert sold 10,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $126.00, for a total value of $1,260,000.00. Following the sale, the chief executive officer now directly owns 373,145 shares in the company, valued at $47,016,270. This represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Truist Financial raised their price target on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Benchmark reaffirmed a “buy” rating and issued a $130.00 price target on shares of LCI Industries in a research report on Wednesday, August 7th. StockNews.com cut LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Raymond James began coverage on shares of LCI Industries in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company 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.