New York State Teachers Retirement System Decreases Position in LCI Industries (NYSE:LCII)

New York State Teachers Retirement System lowered its stake in shares of LCI Industries (NYSE:LCII) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,033 shares of the company’s stock after selling 3,300 shares during the quarter. New York State Teachers Retirement System owned 0.17% of LCI Industries worth $5,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Mercer Global Advisors Inc. ADV increased its holdings in LCI Industries by 4.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,244 shares of the company’s stock worth $232,000 after purchasing an additional 90 shares during the period. nVerses Capital LLC increased its stake in shares of LCI Industries by 7.7% during the second quarter. nVerses Capital LLC now owns 1,400 shares of the company’s stock worth $145,000 after buying an additional 100 shares during the period. HM Payson & Co. raised its holdings in LCI Industries by 6.4% in the first quarter. HM Payson & Co. now owns 1,755 shares of the company’s stock valued at $216,000 after acquiring an additional 105 shares in the last quarter. Hsbc Holdings PLC lifted its stake in LCI Industries by 2.6% in the second quarter. Hsbc Holdings PLC now owns 4,079 shares of the company’s stock worth $417,000 after acquiring an additional 105 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in LCI Industries by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 7,090 shares of the company’s stock worth $733,000 after acquiring an additional 130 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LCII shares. Truist Financial raised 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, September 20th. Raymond James assumed coverage on LCI Industries in a report on Tuesday, October 1st. They set a “market perform” rating for the company. StockNews.com cut LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Benchmark reissued a “buy” rating and set a $130.00 target price on shares of LCI Industries in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, LCI Industries presently has an average rating of “Hold” and a consensus price target of $112.20.

LCI Industries Stock Performance

Shares of LCII stock opened at $115.22 on Wednesday. The stock’s 50-day moving average is $117.01 and its two-hundred day moving average is $111.39. 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 has a market cap of $2.93 billion, a price-to-earnings ratio of 24.16 and a beta of 1.41.

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

LCI Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $1.05 per share. The ex-dividend date was Friday, August 30th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.65%. LCI Industries’s dividend payout ratio (DPR) is presently 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.