Franklin Resources Inc. Purchases 31,376 Shares of LCI Industries (NYSE:LCII)

Franklin Resources Inc. lifted its position in shares of LCI Industries (NYSE:LCII) by 11.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 317,439 shares of the company’s stock after purchasing an additional 31,376 shares during the period. Franklin Resources Inc. owned about 1.25% of LCI Industries worth $37,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC boosted its position in LCI Industries by 2.4% during the 3rd quarter. Tidal Investments LLC now owns 9,402 shares of the company’s stock worth $1,133,000 after buying an additional 223 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of LCI Industries during the third quarter valued at $49,000. SkyView Investment Advisors LLC lifted its holdings in shares of LCI Industries by 2.9% during the third quarter. SkyView Investment Advisors LLC now owns 5,069 shares of the company’s stock worth $611,000 after purchasing an additional 143 shares during the period. Geode Capital Management LLC grew its stake in shares of LCI Industries by 0.3% in the third quarter. Geode Capital Management LLC now owns 564,761 shares of the company’s stock worth $68,090,000 after purchasing an additional 1,688 shares during the last quarter. Finally, MML Investors Services LLC acquired a new stake in LCI Industries in the third quarter valued at $260,000. 99.71% of the stock is currently owned by institutional investors.

Insider Activity at LCI Industries

In related news, CEO Jason Lippert sold 10,000 shares of LCI Industries stock in a transaction on Monday, November 25th. The shares were sold at an average price of $126.00, for a total value of $1,260,000.00. Following the completion of the sale, the chief executive officer now owns 373,145 shares of the company’s stock, valued at approximately $47,016,270. This trade represents a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Raymond James assumed coverage on LCI Industries in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Truist Financial upped their target price on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, StockNews.com lowered shares of LCI Industries from a “buy” rating to a “hold” rating in a 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 issued a buy rating to the company. According to data from MarketBeat, LCI Industries presently has an average rating of “Hold” and a consensus price target of $112.20.

LCI Industries Trading Down 4.5 %

Shares of LCII stock opened at $105.79 on Thursday. LCI Industries has a fifty-two week low of $96.18 and a fifty-two week high of $131.36. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 2.88. The stock has a 50 day simple moving average of $116.90 and a two-hundred day simple moving average of $113.17. The company has a market cap of $2.69 billion, a P/E ratio of 20.58 and a beta of 1.41.

LCI Industries (NYSE:LCII) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.08. The company had revenue of $915.50 million during the quarter, compared to analyst estimates of $922.85 million. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. LCI Industries’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 EPS. Research analysts forecast that LCI Industries will post 5.51 earnings per share for the current year.

LCI Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from LCI Industries’s previous quarterly dividend of $1.05. LCI Industries’s dividend payout ratio is 89.49%.

LCI Industries Company Profile

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.