California Public Employees Retirement System increased its stake in shares of LCI Industries (NYSE:LCII) by 1.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 32,728 shares of the company’s stock after purchasing an additional 512 shares during the quarter. California Public Employees Retirement System owned 0.13% of LCI Industries worth $2,514,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royce & Associates LP raised its position in shares of LCI Industries by 115.4% in the 4th quarter. Royce & Associates LP now owns 804,398 shares of the company’s stock worth $53,734,000 after acquiring an additional 430,869 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of LCI Industries by 49.6% in the 4th quarter. Principal Financial Group Inc. now owns 997,780 shares of the company’s stock worth $66,652,000 after acquiring an additional 330,662 shares in the last quarter. Channing Capital Management LLC acquired a new position in LCI Industries during the 4th quarter valued at about $21,964,000. Norges Bank acquired a new position in LCI Industries during the 4th quarter valued at about $16,116,000. Finally, Bank of New York Mellon Corp increased its position in LCI Industries by 37.1% during the 4th quarter. Bank of New York Mellon Corp now owns 551,598 shares of the company’s stock valued at $36,848,000 after buying an additional 149,282 shares in the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the company. CL King lowered LCI Industries from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 8th. Zacks Investment Research lowered LCI Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Northcoast Research initiated coverage on LCI Industries in a research report on Friday, June 14th. They set a “neutral” rating on the stock. Jefferies Financial Group initiated coverage on LCI Industries in a report on Thursday, March 28th. They issued a “buy” rating and a $86.00 price objective on the stock. Finally, ValuEngine raised LCI Industries from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $102.00.
LCI Industries (NYSE:LCII) last released its earnings results on Tuesday, May 7th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.03. LCI Industries had a return on equity of 18.94% and a net margin of 5.61%. The company had revenue of $592.20 million for the quarter, compared to analysts’ expectations of $585.65 million. During the same quarter in the previous year, the firm posted $1.86 EPS. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. Analysts anticipate that LCI Industries will post 5.7 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a $0.65 dividend. This is an increase from LCI Industries’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 2.89%. The ex-dividend date was Thursday, June 6th. LCI Industries’s dividend payout ratio is currently 44.37%.
About LCI Industries
LCI Industries, together with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures or distributes various components for the OEMs of RVs and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; travel trailers, fifth-wheel travel trailers, folding camping trailers, and truck campers; trucks; pontoon boats; trains; manufactured homes; and modular housing.
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