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

LCI Industries (NYSE:LCII) was the recipient of a significant 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 short-interest ratio is presently 8.2 days. Currently, 8.5% of the company’s shares are short sold.

Hedge Funds Weigh In On LCI Industries

Several institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of LCI Industries in the 2nd quarter worth about $1,685,000. Algert Global LLC purchased a new position in shares of LCI Industries in the 2nd quarter worth about $264,000. SkyView Investment Advisors LLC increased its holdings in LCI Industries by 14.2% in the 2nd quarter. SkyView Investment Advisors LLC now owns 4,926 shares of the company’s stock valued at $509,000 after purchasing an additional 611 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of LCI Industries by 2.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,071 shares of the company’s stock valued at $1,351,000 after buying an additional 297 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in LCI Industries in the 2nd quarter worth approximately $93,000. 99.71% of the stock is owned by institutional investors and hedge funds.

LCI Industries Stock Performance

LCII traded up $0.58 on Monday, reaching $118.23. The company had a trading volume of 124,568 shares, compared to its average volume of 231,654. 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 1 year low of $96.18 and a 1 year high of $131.36. The stock has a market capitalization of $3.01 billion, a PE ratio of 32.03 and a beta of 1.41. The stock has a 50-day moving average price of $112.52 and a 200-day moving average price of $110.69.

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

LCI Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Friday, August 30th. LCI Industries’s dividend payout ratio (DPR) is presently 114.13%.

Analyst Ratings Changes

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

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.