LCI Industries (NYSE:LCII) Short Interest Down 6.3% in October

LCI Industries (NYSE:LCII) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 1,640,000 shares, a decrease of 6.3% from the September 30th total of 1,750,000 shares. Approximately 6.7% of the company’s stock are short sold. Based on an average daily volume of 210,500 shares, the short-interest ratio is presently 7.8 days.

LCI Industries Stock Performance

LCI Industries stock traded down $0.78 during midday trading on Thursday, hitting $114.82. The stock had a trading volume of 11,838 shares, compared to its average volume of 224,917. The company has a market capitalization of $2.92 billion, a PE ratio of 24.25 and a beta of 1.41. LCI Industries has a 52-week low of $96.18 and a 52-week high of $131.36. The firm’s fifty day moving average is $117.52 and its two-hundred day moving average is $111.16. 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 issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.24. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. LCI Industries had a return on equity of 8.85% and a net margin of 3.17%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 earnings per share. On average, research analysts forecast that LCI Industries will post 5.97 EPS for the current year.

LCI Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, August 30th. LCI Industries’s dividend payout ratio (DPR) is presently 88.05%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Raymond James assumed coverage on LCI Industries in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Benchmark reiterated a “buy” rating and issued a $130.00 price objective on shares of LCI Industries in a research note on Wednesday, August 7th. StockNews.com lowered LCI Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Truist Financial lifted 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $112.20.

Institutional Investors Weigh In On LCI Industries

Several hedge funds have recently modified their holdings of LCII. LRI Investments LLC acquired a new position in shares of LCI Industries during the first quarter worth $46,000. Blue Trust Inc. increased its holdings in LCI Industries by 1,289.3% in the 3rd quarter. Blue Trust Inc. now owns 389 shares of the company’s stock worth $47,000 after buying an additional 361 shares during the period. GAMMA Investing LLC increased its holdings in shares of LCI Industries by 98.2% during the 3rd quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after purchasing an additional 272 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in LCI Industries in the first quarter valued at approximately $68,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of LCI Industries by 99.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the company’s stock worth $77,000 after purchasing an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

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.