Principal Financial Group Inc. Increases Stake in LCI Industries (NYSE:LCII)

Principal Financial Group Inc. grew its position in LCI Industries (NYSE:LCII) by 6.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 632,221 shares of the company’s stock after acquiring an additional 36,487 shares during the period. Principal Financial Group Inc.’s holdings in LCI Industries were worth $76,202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in LCI Industries by 1,289.3% in the 3rd quarter. Blue Trust Inc. now owns 389 shares of the company’s stock valued at $47,000 after purchasing an additional 361 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of LCI Industries in the 3rd quarter valued at approximately $49,000. GAMMA Investing LLC boosted its stake in shares of LCI Industries by 98.2% in the third quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after buying an additional 272 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in LCI Industries by 99.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the company’s stock worth $77,000 after acquiring an additional 370 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in LCI Industries in the second quarter valued at $93,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Raymond James assumed coverage on shares of LCI Industries in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. StockNews.com cut shares of LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Truist Financial boosted their price target on LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $112.20.

LCI Industries Stock Down 0.5 %

Shares of NYSE:LCII opened at $104.65 on Friday. The company has a market capitalization of $2.66 billion, a P/E ratio of 20.36 and a beta of 1.41. The stock’s fifty day simple moving average is $116.47 and its 200-day simple moving average is $113.13. LCI Industries has a 52-week low of $96.18 and a 52-week high of $131.36. The company has a quick ratio of 1.25, a current ratio of 2.88 and a debt-to-equity ratio of 0.58.

LCI Industries (NYSE:LCII) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.08. The company had revenue of $915.50 million for the quarter, compared to analysts’ expectations of $922.85 million. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the company earned $1.02 EPS. As a group, equities research analysts forecast that LCI Industries will post 5.51 earnings per share for the current fiscal year.

LCI Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $1.15 dividend. The ex-dividend date of this dividend was Friday, November 29th. This is an increase from LCI Industries’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 4.40%. LCI Industries’s payout ratio is 89.49%.

Insiders Place Their Bets

In other news, CEO Jason Lippert sold 10,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $126.00, for a total transaction of $1,260,000.00. Following the completion of the sale, the chief executive officer now directly owns 373,145 shares in the company, valued at $47,016,270. This represents a 2.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.50% of the company’s stock.

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.