Nordea Investment Management AB Buys Shares of 23,102 LCI Industries (NYSE:LCII)

Nordea Investment Management AB bought a new stake in LCI Industries (NYSE:LCII) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 23,102 shares of the company’s stock, valued at approximately $2,394,000. Nordea Investment Management AB owned 0.09% of LCI Industries as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its position in shares of LCI Industries by 9.9% during the second quarter. Commonwealth Equity Services LLC now owns 3,574 shares of the company’s stock worth $370,000 after buying an additional 322 shares during the period. Arizona State Retirement System boosted its position in shares of LCI Industries by 1.9% during the second quarter. Arizona State Retirement System now owns 7,090 shares of the company’s stock worth $733,000 after buying an additional 130 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of LCI Industries by 4.6% during the second quarter. Texas Permanent School Fund Corp now owns 23,187 shares of the company’s stock worth $2,397,000 after buying an additional 1,023 shares during the period. American Century Companies Inc. raised its holdings in 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 purchasing an additional 97,877 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in LCI Industries during the second quarter worth approximately $529,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at LCI Industries

In other news, CEO Jason Lippert sold 10,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $126.00, for a total value of $1,260,000.00. Following the transaction, the chief executive officer now directly owns 373,145 shares of the company’s stock, valued at approximately $47,016,270. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.50% of the stock is currently owned by company insiders.

LCI Industries Price Performance

LCII opened at $98.67 on Friday. The stock has a fifty day moving average of $112.29 and a 200-day moving average of $113.07. The firm has a market capitalization of $2.51 billion, a P/E ratio of 19.20 and a beta of 1.41. LCI Industries has a 12-month low of $96.18 and a 12-month high of $129.38. 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 earnings results 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 company had revenue of $915.50 million during the quarter, compared to analyst estimates of $922.85 million. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share. Equities analysts forecast that LCI Industries will post 5.51 EPS for the current fiscal year.

LCI Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $1.15 dividend. The ex-dividend date was Friday, November 29th. This is an increase 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 4.66%. LCI Industries’s dividend payout ratio is 89.49%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Raymond James initiated coverage on LCI Industries in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. StockNews.com cut LCI Industries from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Truist Financial dropped their price target on LCI Industries from $108.00 to $102.00 and set a “hold” rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $111.00.

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.