Texas Permanent School Fund Corp Boosts Stake in LCI Industries (NYSE:LCII)

Texas Permanent School Fund Corp raised its position in LCI Industries (NYSE:LCII) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,187 shares of the company’s stock after purchasing an additional 1,023 shares during the quarter. Texas Permanent School Fund Corp owned 0.09% of LCI Industries worth $2,397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LCII. Vanguard Group Inc. raised its holdings in shares of LCI Industries by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,800,882 shares of the company’s stock valued at $344,677,000 after acquiring an additional 15,670 shares in the last quarter. Principal Financial Group Inc. raised its holdings in LCI Industries by 1.8% in the first quarter. Principal Financial Group Inc. now owns 609,232 shares of the company’s stock worth $74,972,000 after purchasing an additional 10,539 shares in the last quarter. Norges Bank purchased a new stake in shares of LCI Industries during the fourth quarter valued at about $33,784,000. Conestoga Capital Advisors LLC lifted its position in LCI Industries by 16.1% during the second quarter. Conestoga Capital Advisors LLC now owns 128,896 shares of the company’s stock valued at $13,325,000 after acquiring an additional 17,845 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of LCI Industries by 6.0% during the fourth quarter. Stifel Financial Corp now owns 81,279 shares of the company’s stock worth $10,218,000 after purchasing an additional 4,595 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Benchmark reiterated a “buy” rating and set a $130.00 price objective on shares of LCI Industries in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, LCI Industries has a consensus rating of “Hold” and an average target price of $109.00.

LCI Industries Stock Performance

Shares of LCII stock opened at $118.23 on Tuesday. The company has a current ratio of 2.82, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $112.90 and its two-hundred day moving average is $110.63. The company has a market capitalization of $3.01 billion, a P/E ratio of 32.13 and a beta of 1.41. LCI Industries has a 12-month low of $96.18 and a 12-month high of $131.36.

LCI Industries (NYSE:LCII) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.24. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. LCI Industries had a return on equity of 8.85% and a net margin of 3.17%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the company earned $1.31 EPS. Analysts expect 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. Investors of record on Friday, August 30th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Friday, August 30th. LCI Industries’s dividend payout ratio is currently 114.13%.

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.