Franklin Resources Inc. Sells 145,653 Shares of LCI Industries (LCII)
Franklin Resources Inc. cut its holdings in LCI Industries (NASDAQ:LCII) by 17.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 679,807 shares of the company’s stock after selling 145,653 shares during the period. Franklin Resources Inc. owned 2.73% of LCI Industries worth $69,613,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Alps Advisors Inc. raised its position in LCI Industries by 0.3% in the second quarter. Alps Advisors Inc. now owns 4,695 shares of the company’s stock worth $481,000 after acquiring an additional 13 shares during the period. Arizona State Retirement System raised its position in LCI Industries by 0.8% in the second quarter. Arizona State Retirement System now owns 12,998 shares of the company’s stock worth $1,331,000 after acquiring an additional 100 shares during the period. State Board of Administration of Florida Retirement System raised its position in LCI Industries by 1.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 14,301 shares of the company’s stock worth $1,464,000 after acquiring an additional 180 shares during the period. Texas Permanent School Fund raised its position in LCI Industries by 1.4% in the second quarter. Texas Permanent School Fund now owns 18,183 shares of the company’s stock worth $1,862,000 after acquiring an additional 259 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in LCI Industries by 13.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,112 shares of the company’s stock worth $319,000 after acquiring an additional 370 shares during the period.
Shares of LCI Industries (LCII) opened at 105.60 on Thursday. The stock’s 50 day moving average is $99.68 and its 200 day moving average is $98.94. LCI Industries has a 12 month low of $80.65 and a 12 month high of $117.15. The company has a market capitalization of $2.63 billion and a P/E ratio of 19.07.
LCI Industries (NASDAQ:LCII) last released its quarterly earnings data on Friday, August 4th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.56 by $0.03. The business had revenue of $547.00 million for the quarter, compared to the consensus estimate of $507.56 million. LCI Industries had a net margin of 7.33% and a return on equity of 26.74%. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, equities analysts predict that LCI Industries will post $5.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Wednesday, August 16th.
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In other LCI Industries news, President Scott T. Mereness acquired 3,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were acquired at an average cost of $94.50 per share, with a total value of $283,500.00. Following the acquisition, the president now directly owns 204,824 shares of the company’s stock, valued at $19,355,868. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David A. Reed sold 2,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $101.29, for a total transaction of $202,580.00. The disclosure for this sale can be found here.
Several research firms have weighed in on LCII. Robert W. Baird reiterated a “buy” rating and issued a $115.00 price target on shares of LCI Industries in a research report on Friday, August 25th. Zacks Investment Research downgraded shares of LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th.
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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