LCI Industries (NYSE:LCII) to Issue Dividend Increase – $1.15 Per Share

LCI Industries (NYSE:LCII) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Investors of record on Friday, November 29th will be given a dividend of 1.15 per share on Friday, December 13th. This represents a $4.60 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, November 29th. This is an increase from LCI Industries’s previous quarterly dividend of $1.05.

LCI Industries has increased its dividend by an average of 14.5% annually over the last three years. LCI Industries has a dividend payout ratio of 67.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect LCI Industries to earn $6.78 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 67.8%.

LCI Industries Price Performance

Shares of NYSE LCII opened at $122.53 on Thursday. The company has a 50 day simple moving average of $117.63 and a two-hundred day simple moving average of $112.43. LCI Industries has a fifty-two week low of $96.18 and a fifty-two week high of $131.36. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 23.84 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 2.88.

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

Insider Activity at LCI Industries

In other LCI Industries news, CEO Jason Lippert sold 10,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $126.00, for a total transaction of $1,260,000.00. Following the completion of the sale, the chief executive officer now directly owns 373,145 shares in the company, valued at approximately $47,016,270. The trade was a 2.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.50% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.