Geode Capital Management LLC Purchases 1,688 Shares of LCI Industries (NYSE:LCII)

Geode Capital Management LLC increased its position in LCI Industries (NYSE:LCII) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 564,761 shares of the company’s stock after buying an additional 1,688 shares during the quarter. Geode Capital Management LLC owned 2.22% of LCI Industries worth $68,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of LCII. American Century Companies Inc. raised its stake in shares of LCI Industries by 30.5% during the second quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock worth $43,274,000 after acquiring an additional 97,877 shares in the last quarter. Royce & Associates LP grew its holdings in shares of LCI Industries by 22.5% during the 3rd quarter. Royce & Associates LP now owns 374,037 shares of the company’s stock valued at $45,086,000 after purchasing an additional 68,682 shares during the last quarter. Dimensional Fund Advisors LP raised its position in LCI Industries by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock worth $114,945,000 after purchasing an additional 62,354 shares during the period. Principal Financial Group Inc. lifted its stake in LCI Industries by 6.1% in the third quarter. Principal Financial Group Inc. now owns 632,221 shares of the company’s stock worth $76,202,000 after purchasing an additional 36,487 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in LCI Industries by 26.5% during the third quarter. Conestoga Capital Advisors LLC now owns 163,006 shares of the company’s stock valued at $19,649,000 after buying an additional 34,110 shares during the period. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Insiders Place Their Bets

In related 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 value of $1,260,000.00. Following the sale, the chief executive officer now directly owns 373,145 shares of the company’s stock, valued at $47,016,270. This represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

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

LCI Industries Price Performance

LCII opened at $104.65 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 2.88. The stock has a market capitalization of $2.66 billion, a PE ratio of 20.36 and a beta of 1.41. The stock’s 50 day moving average price is $116.47 and its 200-day moving average price is $113.13. LCI Industries has a 52-week low of $96.18 and a 52-week high of $131.36.

LCI Industries (NYSE:LCII) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. The business had revenue of $915.50 million for the quarter, compared to the consensus estimate of $922.85 million. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.02 EPS. On average, equities research analysts predict that LCI Industries will post 5.51 EPS for the current year.

LCI Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 4.40%. This is a boost from LCI Industries’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, November 29th. LCI Industries’s payout ratio is presently 89.49%.

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.