Comerica Bank purchased a new position in shares of LCI Industries (NYSE:LCII) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 43,566 shares of the company’s stock, valued at approximately $5,287,000. Comerica Bank owned 0.17% of LCI Industries as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of LCII. Bruderman Asset Management LLC acquired a new stake in LCI Industries during the second quarter worth approximately $122,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of LCI Industries in the second quarter valued at approximately $124,000. Riverhead Capital Management LLC raised its position in shares of LCI Industries by 74.9% in the second quarter. Riverhead Capital Management LLC now owns 1,399 shares of the company’s stock valued at $143,000 after buying an additional 599 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new stake in shares of LCI Industries in the second quarter valued at approximately $144,000. Finally, Pitcairn Co. acquired a new stake in shares of LCI Industries in the third quarter valued at approximately $200,000. Institutional investors and hedge funds own 99.56% of the company’s stock.
LCI Industries (NYSE LCII) traded up $0.15 during midday trading on Thursday, hitting $126.90. 100,950 shares of the company’s stock were exchanged, compared to its average volume of 156,756. The company has a market capitalization of $3,186.13, a PE ratio of 22.77 and a beta of 1.28. LCI Industries has a 12-month low of $86.25 and a 12-month high of $132.00. The company has a current ratio of 2.19, a quick ratio of 1.03 and a debt-to-equity ratio of 0.08.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.73%. LCI Industries’s payout ratio is presently 39.22%.
A number of equities research analysts have recently weighed in on LCII shares. Zacks Investment Research downgraded shares of LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. 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. Finally, BidaskClub upgraded shares of LCI Industries from a “hold” rating to a “buy” rating in a research report on Saturday, September 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $121.00.
In other LCI Industries news, CEO Jason Lippert sold 15,000 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $114.80, for a total transaction of $1,722,000.00. Following the sale, the chief executive officer now owns 164,744 shares of the company’s stock, valued at $18,912,611.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jamie Schnur sold 3,800 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $128.29, for a total transaction of $487,502.00. Following the sale, the insider now directly owns 3,829 shares in the company, valued at approximately $491,222.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,697 shares of company stock worth $4,351,175. Insiders own 3.60% of the company’s stock.
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About LCI Industries
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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