Millennium Management LLC Sells 7,969,682 Shares of LCI Industries (NYSE:LCII)

Millennium Management LLC lessened its position in shares of LCI Industries (NYSE:LCII) by 99.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,827 shares of the company’s stock after selling 7,969,682 shares during the quarter. Millennium Management LLC owned about 0.13% of LCI Industries worth $3,497,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in LCI Industries by 30.5% in the second quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock worth $43,274,000 after acquiring an additional 97,877 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in LCI Industries by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock worth $114,945,000 after purchasing an additional 62,354 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in LCI Industries in the 2nd quarter worth approximately $2,454,000. Pembroke Management LTD grew its position in LCI Industries by 50.8% during the 1st quarter. Pembroke Management LTD now owns 54,006 shares of the company’s stock worth $6,646,000 after purchasing an additional 18,194 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its stake in LCI Industries by 16.1% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 128,896 shares of the company’s stock valued at $13,325,000 after purchasing an additional 17,845 shares in the last quarter. Institutional investors own 99.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LCII. Raymond James initiated coverage on shares of LCI Industries in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Truist Financial increased their price objective on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a report on Friday, September 20th. Benchmark restated a “buy” rating and issued a $130.00 price objective on shares of LCI Industries in a research note on Wednesday, August 7th. Finally, StockNews.com lowered LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, LCI Industries has a consensus rating of “Hold” and an average price target of $112.20.

LCI Industries Stock Up 3.1 %

Shares of LCII stock opened at $117.42 on Monday. LCI Industries has a twelve month low of $96.18 and a twelve month high of $131.36. The stock has a market cap of $2.99 billion, a P/E ratio of 31.91 and a beta of 1.41. The stock has a 50 day moving average of $116.10 and a 200 day moving average of $111.10. The company has a current ratio of 2.82, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59.

LCI Industries (NYSE:LCII) last posted its earnings results on Tuesday, August 6th. The company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.24. LCI Industries had a net margin of 3.17% and a return on equity of 8.85%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the firm earned $1.31 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts expect that LCI Industries will post 5.97 EPS for the current year.

LCI Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $1.05 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.20 dividend on an annualized basis and a yield of 3.58%. LCI Industries’s payout ratio is 114.13%.

About LCI Industries

LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments: Original Equipment Manufacturers (OEM) and Aftermarket.