MML Investors Services LLC Buys New Stake in LCI Industries (NYSE:LCII)

MML Investors Services LLC purchased a new stake in LCI Industries (NYSE:LCII) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,158 shares of the company’s stock, valued at approximately $260,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of LCI Industries by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock valued at $114,945,000 after buying an additional 62,354 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in LCI Industries by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 632,221 shares of the company’s stock worth $76,202,000 after acquiring an additional 36,487 shares during the period. Victory Capital Management Inc. grew its position in LCI Industries by 2.5% in the third quarter. Victory Capital Management Inc. now owns 621,218 shares of the company’s stock valued at $74,882,000 after acquiring an additional 14,969 shares in the last quarter. American Century Companies Inc. raised its stake in shares of LCI Industries by 30.5% during the second quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock valued at $43,274,000 after purchasing an additional 97,877 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position 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 worth $49,575,000 after purchasing an additional 29,192 shares in the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at LCI Industries

In related news, CEO Jason Lippert sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 373,145 shares of the company’s stock, valued at approximately $47,016,270. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.

LCI Industries Stock Performance

Shares of LCII stock opened at $103.66 on Thursday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 20.17 and a beta of 1.41. LCI Industries has a one year low of $96.18 and a one year high of $131.36. The company’s 50-day simple moving average is $115.84 and its 200-day simple moving average is $113.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 2.88.

LCI Industries (NYSE:LCII) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. The business had revenue of $915.50 million during the quarter, compared to the consensus estimate of $922.85 million. During the same period in the previous year, the business earned $1.02 EPS. The business’s quarterly revenue was down 4.6% on a year-over-year basis. Equities analysts anticipate that LCI Industries will post 5.51 earnings per share for the current fiscal year.

LCI Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.44%. This is a boost from LCI Industries’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, November 29th. LCI Industries’s dividend payout ratio is 89.49%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Raymond James started coverage on shares of LCI Industries in a report on Tuesday, October 1st. They set a “market perform” rating for the company. StockNews.com raised LCI Industries from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Truist Financial increased their price target on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $112.20.

LCI Industries Company Profile

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.