State of New Jersey Common Pension Fund D Decreases Stock Position in LCI Industries (NYSE:LCII)

State of New Jersey Common Pension Fund D lowered its stake in LCI Industries (NYSE:LCII) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,251 shares of the company’s stock after selling 1,370 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of LCI Industries worth $1,959,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LCII. LRI Investments LLC bought a new stake in shares of LCI Industries in the first quarter worth about $46,000. Blue Trust Inc. grew its stake in shares of LCI Industries by 1,289.3% in the third quarter. Blue Trust Inc. now owns 389 shares of the company’s stock worth $47,000 after purchasing an additional 361 shares during the last quarter. GAMMA Investing LLC grew 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 worth $66,000 after purchasing an additional 272 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of LCI Industries by 99.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the company’s stock worth $77,000 after purchasing an additional 370 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of LCI Industries in the second quarter worth about $93,000. 99.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $130.00 target price on shares of LCI Industries in a research note on Wednesday, August 7th. Truist Financial lifted their price objective on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Raymond James started coverage on LCI Industries in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Finally, StockNews.com cut LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, LCI Industries currently has an average rating of “Hold” and an average price target of $112.20.

LCI Industries Stock Performance

Shares of LCII opened at $114.69 on Monday. The company has a quick ratio of 1.25, a current ratio of 2.88 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average price is $116.95 and its 200-day moving average price is $111.81. LCI Industries has a 52 week low of $96.18 and a 52 week high of $131.36. The stock has a market cap of $2.92 billion, a P/E ratio of 22.31 and a beta of 1.41.

LCI Industries (NYSE:LCII) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.39 EPS for the quarter, topping 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 firm had revenue of $915.50 million for the quarter, compared to analysts’ expectations of $922.85 million. During the same period in the previous year, the firm posted $1.02 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. Equities research analysts anticipate that LCI Industries will post 5.51 earnings per share for the current fiscal year.

LCI Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $1.15 dividend. This is a boost from LCI Industries’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Friday, November 29th. LCI Industries’s payout ratio is currently 81.71%.

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.