Scott T. Mereness Buys 3,000 Shares of LCI Industries (LCII) Stock

LCI Industries (NASDAQ:LCII) President Scott T. Mereness bought 3,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were acquired at an average price of $94.50 per share, with a total value of $283,500.00. Following the transaction, the president now owns 204,824 shares of the company’s stock, valued at approximately $19,355,868. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

LCI Industries (NASDAQ:LCII) opened at 96.55 on Friday. LCI Industries has a 12 month low of $80.65 and a 12 month high of $117.15. The firm’s 50-day moving average is $102.16 and its 200-day moving average is $100.93. The firm has a market cap of $2.41 billion and a PE ratio of 17.43.

LCI Industries (NASDAQ:LCII) last posted its quarterly earnings results on Friday, August 4th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.03. LCI Industries had a net margin of 7.33% and a return on equity of 26.74%. The business had revenue of $547 million during the quarter, compared to analyst estimates of $507.56 million. LCI Industries’s revenue for the quarter was up 24.0% compared to the same quarter last year. Equities analysts expect that LCI Industries will post $5.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%.

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A number of institutional investors have recently added to or reduced their stakes in the company. Bruderman Asset Management LLC purchased a new position in LCI Industries during the second quarter worth approximately $122,000. Riverhead Capital Management LLC increased its position in LCI Industries by 74.9% in the second quarter. Riverhead Capital Management LLC now owns 1,399 shares of the company’s stock worth $143,000 after buying an additional 599 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new position in LCI Industries during the second quarter worth approximately $144,000. LSV Asset Management purchased a new position in LCI Industries during the second quarter worth approximately $194,000. Finally, Teacher Retirement System of Texas purchased a new position in LCI Industries during the second quarter worth approximately $202,000.

LCII has been the subject of a number of research reports. Zacks Investment Research upgraded shares of LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Wednesday, July 5th. Robert W. Baird initiated coverage on shares of LCI Industries in a research report on Wednesday, May 3rd. They set an “outperform” rating and a $118.00 target price for the company.

LCI Industries Company Profile

LCI Industries, formerly Drew Industries Incorporated, through its subsidiary, Lippert Components, Inc and its subsidiaries (LCI), supplies an array of components for the original equipment manufacturers (OEMs) of recreational vehicles (RVs) and adjacent industries. The Company’s segments include OEM Segment and Aftermarket Segment.

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