KLP Kapitalforvaltning AS Takes Position in LCI Industries (NYSE:LCII)

KLP Kapitalforvaltning AS purchased a new position in shares of LCI Industries (NYSE:LCII) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,400 shares of the company’s stock, valued at approximately $558,000.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in LCI Industries by 6.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 436,423 shares of the company’s stock valued at $45,122,000 after purchasing an additional 25,145 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of LCI Industries by 1.8% during the 4th quarter. Principal Financial Group Inc. now owns 643,507 shares of the company’s stock worth $66,536,000 after buying an additional 11,286 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of LCI Industries during the 4th quarter worth $266,000. Smartleaf Asset Management LLC boosted its stake in LCI Industries by 205.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 367 shares of the company’s stock valued at $37,000 after buying an additional 247 shares in the last quarter. Finally, Congress Asset Management Co. raised its stake in LCI Industries by 10.1% during the fourth quarter. Congress Asset Management Co. now owns 57,565 shares of the company’s stock worth $5,952,000 after acquiring an additional 5,303 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. CJS Securities raised 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 report on Wednesday, February 12th. 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 report on Monday, February 10th. Finally, StockNews.com downgraded LCI Industries from a “buy” rating to a “hold” rating in a report on Monday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $121.50.

LCI Industries Price Performance

LCII stock opened at $89.74 on Thursday. The company has a market capitalization of $2.29 billion, a P/E ratio of 16.03 and a beta of 1.45. LCI Industries has a 52-week low of $85.69 and a 52-week high of $129.38. The company has a fifty day moving average price of $99.27 and a 200-day moving average price of $108.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 2.82.

LCI Industries (NYSE:LCII) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share (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, equities analysts expect that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.60 dividend on an annualized basis and a yield of 5.13%. LCI Industries’s dividend payout ratio (DPR) is currently 82.14%.

LCI Industries 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.