State of New Jersey Common Pension Fund D Reduces Position in LCI Industries (NYSE:LCII)

State of New Jersey Common Pension Fund D cut its position in shares of LCI Industries (NYSE:LCII) by 22.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,621 shares of the company’s stock after selling 5,045 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.07% of LCI Industries worth $1,822,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LCII. Norges Bank purchased a new position in shares of LCI Industries during the 4th quarter worth about $33,784,000. Pembroke Management LTD boosted its stake in shares of LCI Industries by 50.8% during the 1st quarter. Pembroke Management LTD now owns 54,006 shares of the company’s stock worth $6,646,000 after purchasing an additional 18,194 shares during the period. Conestoga Capital Advisors LLC boosted its stake in shares of LCI Industries by 16.1% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 128,896 shares of the company’s stock worth $13,325,000 after purchasing an additional 17,845 shares during the period. Vanguard Group Inc. boosted its stake in shares of LCI Industries by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 2,800,882 shares of the company’s stock worth $344,677,000 after purchasing an additional 15,670 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of LCI Industries by 1.8% during the 1st 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 during the period. 99.71% of the stock is owned by hedge funds and other institutional investors.

LCI Industries Trading Down 2.1 %

Shares of LCII opened at $118.32 on Tuesday. LCI Industries has a 1-year low of $96.18 and a 1-year high of $131.36. The company has a 50-day moving average of $114.48 and a 200 day moving average of $110.59. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 32.15 and a beta of 1.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.82 and a quick ratio of 1.23.

LCI Industries (NYSE:LCII) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.16 by $0.24. LCI Industries had a net margin of 3.17% and a return on equity of 8.85%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the business posted $1.31 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, research analysts expect that LCI Industries will post 6 EPS for the current year.

LCI Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LCII shares. Benchmark reaffirmed a “buy” rating and set a $130.00 price target on shares of LCI Industries in a research note on Wednesday, August 7th. Truist Financial lifted their price objective on shares of LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, LCI Industries currently has an average rating of “Hold” and a consensus target price of $108.67.

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.