American International Group Inc. boosted its stake in LCI Industries (NYSE:LCII) by 5.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,285 shares of the company’s stock after buying an additional 1,043 shares during the quarter. American International Group Inc. owned approximately 0.08% of LCI Industries worth $2,234,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in LCII. Epoch Investment Partners Inc. purchased a new stake in LCI Industries in the 2nd quarter worth approximately $42,453,000. Royal Bank of Canada lifted its position in LCI Industries by 65.4% in the 2nd quarter. Royal Bank of Canada now owns 826,484 shares of the company’s stock worth $84,633,000 after buying an additional 326,926 shares in the last quarter. Marshall Wace North America L.P. lifted its position in LCI Industries by 64.1% in the 2nd quarter. Marshall Wace North America L.P. now owns 274,898 shares of the company’s stock worth $28,039,000 after buying an additional 107,336 shares in the last quarter. Victory Capital Management Inc. lifted its position in LCI Industries by 30.8% in the 2nd quarter. Victory Capital Management Inc. now owns 397,152 shares of the company’s stock worth $40,668,000 after buying an additional 93,465 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK lifted its position in LCI Industries by 21.6% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 398,573 shares of the company’s stock worth $40,814,000 after buying an additional 70,672 shares in the last quarter. Institutional investors own 99.56% of the company’s stock.
In other news, insider Jamie Schnur sold 1,100 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $115.46, for a total transaction of $127,006.00. Following the transaction, the insider now owns 6,347 shares in the company, valued at approximately $732,824.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jason Lippert sold 7,500 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $113.65, for a total transaction of $852,375.00. Following the transaction, the chief executive officer now owns 164,744 shares in the company, valued at approximately $18,723,155.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,697 shares of company stock worth $4,351,175. 3.60% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.20 annualized dividend and a dividend yield of 1.72%. LCI Industries’s dividend payout ratio (DPR) is 39.22%.
Several brokerages have recently commented on LCII. Zacks Investment Research lowered shares of LCI Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Robert W. Baird restated a “buy” rating and set a $115.00 price target on shares of LCI Industries in a research note on Friday, August 25th. Finally, BidaskClub upgraded shares of LCI Industries from a “hold” rating to a “buy” rating in a research note on Saturday, September 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $121.00.
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LCI Industries 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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