LCI Industries (NYSE:LCII) Stock Position Decreased by NewEdge Wealth LLC

NewEdge Wealth LLC trimmed its position in shares of LCI Industries (NYSE:LCII) by 17.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,865 shares of the company’s stock after selling 4,568 shares during the period. NewEdge Wealth LLC’s holdings in LCI Industries were worth $2,261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in LCI Industries by 29.2% during the 4th quarter. Bank of New York Mellon Corp now owns 357,629 shares of the company’s stock valued at $36,975,000 after purchasing an additional 80,784 shares during the period. Edge Capital Group LLC acquired a new position in LCI Industries during the 4th quarter valued at about $1,216,000. Olympiad Research LP acquired a new position in LCI Industries during the 4th quarter valued at about $304,000. CIBC Asset Management Inc acquired a new position in LCI Industries during the 4th quarter valued at about $266,000. Finally, Principal Financial Group Inc. boosted its stake in LCI Industries by 1.8% during the 4th quarter. Principal Financial Group Inc. now owns 643,507 shares of the company’s stock valued at $66,536,000 after purchasing an additional 11,286 shares during the period. 99.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

LCI Industries Trading Up 1.1 %

Shares of NYSE:LCII opened at $103.74 on Friday. The company has a 50 day moving average of $104.81 and a 200-day moving average of $112.58. The firm has a market cap of $2.64 billion, a P/E ratio of 18.53 and a beta of 1.44. LCI Industries has a twelve month low of $96.18 and a twelve month 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.

LCI Industries (NYSE:LCII) last released its earnings results on Tuesday, February 11th. The company reported $0.37 EPS for the quarter, beating the consensus estimate 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, analysts anticipate that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors 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 yield of 4.43%. The ex-dividend date of this dividend is Friday, March 7th. LCI Industries’s dividend payout ratio is presently 82.14%.

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.