State of Alaska Department of Revenue Cuts Position in LCI Industries (NYSE:LCII)

State of Alaska Department of Revenue reduced its holdings in shares of LCI Industries (NYSE:LCII) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,530 shares of the company’s stock after selling 413 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of LCI Industries worth $1,751,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. UniSuper Management Pty Ltd acquired a new stake in LCI Industries in the 1st quarter valued at $732,000. Comerica Bank grew its stake in shares of LCI Industries by 24.1% in the first quarter. Comerica Bank now owns 31,784 shares of the company’s stock valued at $3,911,000 after buying an additional 6,174 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of LCI Industries by 76.7% during the 1st quarter. Quadrature Capital Ltd now owns 12,672 shares of the company’s stock valued at $1,558,000 after buying an additional 5,500 shares during the period. Vanguard Group Inc. lifted its position in 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 acquiring an additional 15,670 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in LCI Industries in the 2nd quarter worth approximately $438,000. Institutional investors and hedge funds own 99.71% of the company’s stock.

Analysts Set New Price Targets

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

LCI Industries Stock Performance

Shares of LCI Industries stock opened at $112.58 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.23 and a current ratio of 2.82. LCI Industries has a 1 year low of $96.18 and a 1 year high of $131.36. The firm’s 50-day simple moving average is $117.30 and its 200-day simple moving average is $111.18. The firm has a market cap of $2.87 billion, a PE ratio of 23.60 and a beta of 1.41.

LCI Industries (NYSE:LCII) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.24. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. LCI Industries had a return on equity of 8.85% and a net margin of 3.17%. LCI Industries’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 earnings per share. Equities analysts forecast that LCI Industries will post 5.97 earnings per share for the current fiscal year.

LCI Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $1.05 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.20 annualized dividend and a yield of 3.73%. LCI Industries’s payout ratio is 88.05%.

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.