LCI Industries (NASDAQ:LCII) President Purchases $283,500.00 in Stock
LCI Industries (NASDAQ:LCII) President Scott T. Mereness purchased 3,000 shares of LCI Industries stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average cost of $94.50 per share, for a total transaction of $283,500.00. Following the purchase, the president now directly owns 204,824 shares in the company, valued at $19,355,868. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.
LCI Industries (NASDAQ LCII) traded up 2.77% on Friday, reaching $96.55. 201,265 shares of the company traded hands. LCI Industries has a 1-year low of $80.65 and a 1-year high of $117.15. The stock has a 50 day moving average of $102.32 and a 200-day moving average of $101.02. The stock has a market capitalization of $2.41 billion and a price-to-earnings ratio of 17.43.
LCI Industries (NASDAQ:LCII) last released its earnings results on Friday, August 4th. The company reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.03. LCI Industries had a net margin of 7.33% and a return on equity of 26.74%. The firm had revenue of $547 million for the quarter, compared to analyst estimates of $507.56 million. The firm’s revenue was up 24.0% compared to the same quarter last year. On average, equities analysts anticipate that LCI Industries will post $5.83 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.13%.
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Several research firms recently commented on LCII. Zacks Investment Research raised shares of LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Wednesday, July 5th. Robert W. Baird began coverage on shares of LCI Industries in a research note on Wednesday, May 3rd. They issued an “outperform” rating and a $118.00 price target on the stock.
Several hedge funds have recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc increased its position in shares of LCI Industries by 215.2% in the second quarter. K.J. Harrison & Partners Inc now owns 15,760 shares of the company’s stock worth $1,614,000 after buying an additional 10,760 shares during the period. Congress Asset Management Co. MA increased its position in shares of LCI Industries by 11.4% in the second quarter. Congress Asset Management Co. MA now owns 14,950 shares of the company’s stock worth $1,531,000 after buying an additional 1,534 shares during the period. Bowling Portfolio Management LLC increased its position in shares of LCI Industries by 39.5% in the second quarter. Bowling Portfolio Management LLC now owns 6,892 shares of the company’s stock worth $706,000 after buying an additional 1,953 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of LCI Industries by 8.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 200,000 shares of the company’s stock worth $20,480,000 after buying an additional 15,000 shares during the period. Finally, Tdam USA Inc. acquired a new position in shares of LCI Industries during the second quarter worth about $1,840,000.
LCI Industries Company Profile
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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