Principal Financial Group Inc. Raises Stake in LCI Industries (NYSE:LCII)

Principal Financial Group Inc. boosted its holdings in LCI Industries (NYSE:LCII) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 643,507 shares of the company’s stock after buying an additional 11,286 shares during the period. Principal Financial Group Inc. owned approximately 2.53% of LCI Industries worth $66,536,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new position in shares of LCI Industries in the 4th quarter valued at $28,000. Blue Trust Inc. increased its holdings in LCI Industries by 1,289.3% in the 3rd quarter. Blue Trust Inc. now owns 389 shares of the company’s stock valued at $47,000 after purchasing an additional 361 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in LCI Industries in the third quarter valued at about $49,000. Aubrey Capital Management Ltd acquired a new position in shares of LCI Industries during the third quarter worth about $208,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of LCI Industries in the third quarter worth about $219,000. 99.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LCII has been the subject of a number of analyst reports. Truist Financial upped their price target on LCI Industries from $102.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, February 10th. CJS Securities raised shares of LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 price target for the company in a report on Wednesday, February 12th. Finally, StockNews.com downgraded shares of LCI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $121.50.

Insider Transactions at LCI Industries

In other LCI Industries news, CEO Jason Lippert sold 10,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $126.00, for a total transaction 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 approximately $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 the SEC website. Insiders own 3.50% of the company’s stock.

LCI Industries Stock Down 1.1 %

LCII stock opened at $108.96 on Thursday. The company has a current ratio of 2.82, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The firm has a 50 day simple moving average of $105.49 and a 200-day simple moving average of $112.81. The company has a market capitalization of $2.77 billion, a P/E ratio of 19.46 and a beta of 1.44. LCI Industries has a twelve month low of $96.18 and a twelve month high of $129.38.

LCI Industries (NYSE:LCII) last released its earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. LCI Industries had a net margin of 3.82% and a return on equity of 10.28%. On average, equities research analysts predict that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 4.22%. LCI Industries’s dividend payout ratio is presently 82.14%.

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.