Short Interest in LCI Industries (NYSE:LCII) Rises By 11.8%

LCI Industries (NYSE:LCII) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 2,080,000 shares, an increase of 11.8% from the August 15th total of 1,860,000 shares. Based on an average daily volume of 253,400 shares, the days-to-cover ratio is currently 8.2 days. Currently, 8.5% of the company’s shares are sold short.

Institutional Investors Weigh In On LCI Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. lifted its position in LCI Industries by 532.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 373 shares of the company’s stock worth $46,000 after acquiring an additional 314 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of LCI Industries during the first quarter valued at approximately $46,000. Fidelis Capital Partners LLC acquired a new position in shares of LCI Industries during the first quarter worth $68,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of LCI Industries in the second quarter valued at $93,000. Finally, nVerses Capital LLC grew its holdings in LCI Industries by 7.7% during the 2nd quarter. nVerses Capital LLC now owns 1,400 shares of the company’s stock valued at $145,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Wall Street Analyst Weigh In

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

LCI Industries Trading Up 2.2 %

Shares of LCII stock opened at $120.89 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 2.82 and a debt-to-equity ratio of 0.59. LCI Industries has a fifty-two week low of $96.18 and a fifty-two week high of $131.36. The firm’s 50 day moving average price is $113.36 and its two-hundred day moving average price is $110.59. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 32.85 and a beta of 1.41.

LCI Industries (NYSE:LCII) last issued its earnings results on Tuesday, August 6th. The company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.24. LCI Industries had a net margin of 3.17% and a return on equity of 8.85%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted $1.31 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts anticipate that LCI Industries will post 6 EPS for the current year.

LCI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Friday, August 30th. LCI Industries’s dividend payout ratio is presently 114.13%.

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.