Lazard Asset Management LLC Purchases 29,700 Shares of LCI Industries (NYSE:LCII)

Lazard Asset Management LLC boosted its position in shares of LCI Industries (NYSE:LCII) by 14.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 241,734 shares of the company’s stock after purchasing an additional 29,700 shares during the quarter. Lazard Asset Management LLC’s holdings in LCI Industries were worth $18,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Icon Wealth Partners LLC acquired a new stake in LCI Industries during the 1st quarter valued at $31,000. Versant Capital Management Inc acquired a new stake in LCI Industries during the 1st quarter valued at $45,000. Cullen Frost Bankers Inc. acquired a new stake in LCI Industries during the 1st quarter valued at $61,000. Rockefeller Capital Management L.P. grew its holdings in LCI Industries by 1,189.6% during the 1st quarter. Rockefeller Capital Management L.P. now owns 993 shares of the company’s stock valued at $76,000 after purchasing an additional 916 shares in the last quarter. Finally, Exane Derivatives grew its holdings in LCI Industries by 93.4% during the 1st quarter. Exane Derivatives now owns 1,079 shares of the company’s stock valued at $83,000 after purchasing an additional 521 shares in the last quarter. 97.31% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have commented on LCII shares. CL King downgraded shares of LCI Industries from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 8th. Zacks Investment Research upgraded shares of LCI Industries from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Friday, May 10th. ValuEngine upgraded shares of LCI Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Jefferies Financial Group started coverage on shares of LCI Industries in a research note on Thursday, March 28th. They set a “buy” rating and a $86.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $102.00.

NYSE LCII opened at $90.46 on Friday. LCI Industries has a 12 month low of $59.68 and a 12 month high of $102.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.06 and a current ratio of 2.57. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 0.94 and a beta of 1.40.

LCI Industries (NYSE:LCII) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.03. LCI Industries had a net margin of 5.61% and a return on equity of 18.94%. The company had revenue of $592.20 million for the quarter, compared to the consensus estimate of $585.65 million. During the same period last year, the firm posted $1.86 EPS. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, research analysts expect that LCI Industries will post 5.83 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a $0.65 dividend. This is an increase from LCI Industries’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Thursday, June 6th. LCI Industries’s dividend payout ratio (DPR) is presently 44.37%.

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LCI Industries Profile

LCI Industries, together with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures or distributes various components for the OEMs of RVs and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; travel trailers, fifth-wheel travel trailers, folding camping trailers, and truck campers; trucks; pontoon boats; trains; manufactured homes; and modular housing.

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Institutional Ownership by Quarter for LCI Industries (NYSE:LCII)

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