Cornercap Investment Counsel Inc. Purchases Shares of 5,120 LCI Industries (NYSE:LCII)

Cornercap Investment Counsel Inc. purchased a new stake in shares of LCI Industries (NYSE:LCII) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,120 shares of the company’s stock, valued at approximately $529,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LCII. Benjamin F. Edwards & Company Inc. increased its stake in LCI Industries by 532.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 373 shares of the company’s stock valued at $46,000 after buying an additional 314 shares during the period. LRI Investments LLC acquired a new position in shares of LCI Industries during the first quarter valued at approximately $46,000. Fidelis Capital Partners LLC bought a new stake in LCI Industries during the first quarter worth approximately $68,000. nVerses Capital LLC lifted its position in LCI Industries by 7.7% in the second quarter. nVerses Capital LLC now owns 1,400 shares of the company’s stock worth $145,000 after purchasing an additional 100 shares during the period. Finally, SG Americas Securities LLC bought a new position in LCI Industries during the 1st quarter valued at $184,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

LCI Industries Price Performance

LCII opened at $117.69 on Friday. LCI Industries has a 12-month low of $96.18 and a 12-month high of $131.36. The company has a quick ratio of 1.23, a current ratio of 2.82 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $3.00 billion, a P/E ratio of 31.98 and a beta of 1.41. The stock has a fifty day moving average of $112.14 and a 200-day moving average of $110.91.

LCI Industries (NYSE:LCII) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.24. LCI Industries had a return on equity of 8.85% and a net margin of 3.17%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business earned $1.31 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts forecast that LCI Industries will post 6 EPS for the current fiscal year.

LCI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors 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 3.57%. The ex-dividend date was Friday, August 30th. LCI Industries’s payout ratio is presently 114.13%.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued a “buy” rating and issued a $130.00 price objective on shares of LCI Industries in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, LCI Industries currently has an average rating of “Hold” and a consensus target price of $109.00.

LCI Industries 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.