LCI Industries (NYSE:LCII) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in LCI Industries (NYSE:LCII) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 643,507 shares of the company’s stock after buying an additional 11,286 shares during the period. Principal Financial Group Inc.’s holdings in LCI Industries were worth $66,536,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LCII. Royce & Associates LP increased its holdings in shares of LCI Industries by 22.5% in the 3rd quarter. Royce & Associates LP now owns 374,037 shares of the company’s stock worth $45,086,000 after acquiring an additional 68,682 shares during the period. Conestoga Capital Advisors LLC grew its position in LCI Industries by 26.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 163,006 shares of the company’s stock worth $19,649,000 after purchasing an additional 34,110 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of LCI Industries by 11.0% in the third quarter. Franklin Resources Inc. now owns 317,439 shares of the company’s stock valued at $37,607,000 after purchasing an additional 31,376 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of LCI Industries by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 411,278 shares of the company’s stock valued at $49,575,000 after buying an additional 29,192 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of LCI Industries during the fourth quarter worth approximately $28,000. 99.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LCII. StockNews.com lowered LCI Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Truist Financial increased their target price on shares of LCI Industries from $102.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Finally, CJS Securities upgraded shares of LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 price target on the stock in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, LCI Industries presently has an average rating of “Hold” and a consensus target price of $121.50.

LCI Industries Price Performance

Shares of LCI Industries stock opened at $108.96 on Thursday. LCI Industries has a 52 week low of $96.18 and a 52 week high of $129.38. The company has a current ratio of 2.82, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $105.49 and its two-hundred day moving average price is $112.81. The stock has a market cap of $2.77 billion, a PE ratio of 19.46 and a beta of 1.44.

LCI Industries (NYSE:LCII) last released its earnings results on Tuesday, February 11th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. LCI Industries had a net margin of 3.82% and a return on equity of 10.28%. As a group, sell-side analysts anticipate that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 4.22%. LCI Industries’s dividend payout ratio is presently 82.14%.

Insider Buying and Selling

In other news, CEO Jason Lippert sold 10,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $126.00, for a total value of $1,260,000.00. Following the completion of the sale, the chief executive officer now owns 373,145 shares in the company, valued at $47,016,270. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.50% of the company’s stock.

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.