King Luther Capital Management Corp Has $205,000 Position in LCI Industries (LCII)
King Luther Capital Management Corp trimmed its stake in shares of LCI Industries (NASDAQ:LCII) by 96.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the company’s stock after selling 50,000 shares during the quarter. King Luther Capital Management Corp’s holdings in LCI Industries were worth $205,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its position in LCI Industries by 10.5% during the second quarter. Ameriprise Financial Inc. now owns 294,735 shares of the company’s stock worth $30,180,000 after purchasing an additional 28,030 shares during the period. Teachers Advisors LLC boosted its position in LCI Industries by 4.1% during the second quarter. Teachers Advisors LLC now owns 205,415 shares of the company’s stock worth $21,034,000 after purchasing an additional 8,083 shares during the period. Summit Global Investments bought a new position in LCI Industries during the second quarter worth $532,000. Riverhead Capital Management LLC boosted its position in LCI Industries by 74.9% during the second quarter. Riverhead Capital Management LLC now owns 1,399 shares of the company’s stock worth $143,000 after purchasing an additional 599 shares during the period. Finally, Century Capital Management LLC boosted its position in LCI Industries by 56.1% during the second quarter. Century Capital Management LLC now owns 61,666 shares of the company’s stock worth $6,315,000 after purchasing an additional 22,155 shares during the period.
A number of equities analysts have commented on LCII shares. Zacks Investment Research raised shares of LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Wednesday, July 5th. BidaskClub raised shares of LCI Industries from a “hold” rating to a “buy” rating in a research report on Saturday, September 16th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $115.00 price objective on shares of LCI Industries in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. LCI Industries presently has a consensus rating of “Hold” and a consensus target price of $112.33.
LCI Industries (NASDAQ LCII) opened at 106.90 on Friday. The firm’s 50-day moving average is $99.60 and its 200-day moving average is $98.75. LCI Industries has a 52-week low of $80.65 and a 52-week high of $117.15. The company has a market capitalization of $2.66 billion and a PE ratio of 19.30.
LCI Industries (NASDAQ:LCII) last announced its earnings results on Friday, August 4th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.03. LCI Industries had a return on equity of 26.74% and a net margin of 7.33%. The firm had revenue of $547.00 million during the quarter, compared to analyst estimates of $507.56 million. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. On average, equities research analysts forecast that LCI Industries will post $5.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Wednesday, August 16th.
In other news, insider Nick C. Fletcher sold 1,617 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $105.44, for a total transaction of $170,496.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Scott T. Mereness bought 3,000 shares of the firm’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 completion of the transaction, the president now owns 204,824 shares in the company, valued at $19,355,868. The disclosure for this purchase can be found here.
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.
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.