Cornercap Investment Counsel Inc. Sells 2,656 Shares of LCI Industries (NYSE:LCII)

Cornercap Investment Counsel Inc. reduced its stake in LCI Industries (NYSE:LCII) by 51.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,464 shares of the company’s stock after selling 2,656 shares during the period. Cornercap Investment Counsel Inc.’s holdings in LCI Industries were worth $297,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LCII. LRI Investments LLC bought a new position in shares of LCI Industries during the first quarter valued at approximately $46,000. Blue Trust Inc. increased its position in shares of LCI Industries by 1,289.3% during the third quarter. Blue Trust Inc. now owns 389 shares of the company’s stock valued at $47,000 after acquiring an additional 361 shares in the last quarter. GAMMA Investing LLC increased its position in shares of LCI Industries by 98.2% during the third quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after acquiring an additional 272 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of LCI Industries by 99.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the company’s stock valued at $77,000 after acquiring an additional 370 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of LCI Industries during the second quarter valued at approximately $93,000. 99.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LCII shares. Truist Financial raised their target price on shares of LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Benchmark restated a “buy” rating and issued a $130.00 target price on shares of LCI Industries in a report on Wednesday, August 7th. StockNews.com cut shares of LCI Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Raymond James initiated coverage on shares of LCI Industries in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, LCI Industries has a consensus rating of “Hold” and a consensus target price of $112.20.

LCI Industries Stock Performance

LCI Industries stock opened at $114.69 on Monday. The company’s 50-day moving average price is $116.95 and its 200-day moving average price is $111.81. LCI Industries has a twelve month low of $96.18 and a twelve month high of $131.36. The company has a quick ratio of 1.25, a current ratio of 2.88 and a debt-to-equity ratio of 0.58. The company has a market cap of $2.92 billion, a PE ratio of 22.31 and a beta of 1.41.

LCI Industries (NYSE:LCII) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. The firm had revenue of $915.50 million during the quarter, compared to analysts’ expectations of $922.85 million. During the same period in the previous year, the company earned $1.02 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, equities research analysts forecast that LCI Industries will post 5.51 EPS for the current fiscal year.

LCI Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 4.01%. This is a boost from LCI Industries’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, November 29th. LCI Industries’s payout ratio is 81.71%.

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.