New York State Teachers Retirement System Lowers Stock Holdings in LCI Industries (NYSE:LCII)

New York State Teachers Retirement System lessened its stake in shares of LCI Industries (NYSE:LCII) by 7.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,033 shares of the company’s stock after selling 3,300 shares during the quarter. New York State Teachers Retirement System’s holdings in LCI Industries were worth $5,067,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Argent Capital Management LLC raised its position in LCI Industries by 14.5% during the 3rd quarter. Argent Capital Management LLC now owns 2,229 shares of the company’s stock worth $269,000 after buying an additional 282 shares during the last quarter. International Assets Investment Management LLC raised its holdings in LCI Industries by 5,533.7% during the third quarter. International Assets Investment Management LLC now owns 10,366 shares of the company’s stock worth $1,250,000 after purchasing an additional 10,182 shares in the last quarter. Raymond James & Associates raised its holdings in LCI Industries by 4.7% during the third quarter. Raymond James & Associates now owns 308,166 shares of the company’s stock worth $37,146,000 after purchasing an additional 13,866 shares in the last quarter. Blue Trust Inc. lifted its position in LCI Industries by 1,289.3% in the third quarter. Blue Trust Inc. now owns 389 shares of the company’s stock valued at $47,000 after purchasing an additional 361 shares during the period. Finally, nVerses Capital LLC boosted its holdings in LCI Industries by 14.3% in the 3rd quarter. nVerses Capital LLC now owns 1,600 shares of the company’s stock valued at $193,000 after purchasing an additional 200 shares in the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

LCI Industries Trading Up 3.2 %

Shares of LCII stock opened at $115.22 on Wednesday. The stock has a market cap of $2.93 billion, a P/E ratio of 24.16 and a beta of 1.41. The company has a quick ratio of 1.23, a current ratio of 2.82 and a debt-to-equity ratio of 0.59. LCI Industries has a fifty-two week low of $96.18 and a fifty-two week high of $131.36. The business has a fifty day simple moving average of $117.01 and a 200-day simple moving average of $111.39.

LCI Industries (NYSE:LCII) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.24. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. LCI Industries had a net margin of 3.17% and a return on equity of 8.85%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 EPS. On average, analysts forecast that LCI Industries will post 5.97 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid 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 88.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LCII shares. Raymond James initiated coverage on LCI Industries in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Benchmark reiterated a “buy” rating and issued a $130.00 price objective on shares of LCI Industries in a research report on Wednesday, August 7th. StockNews.com lowered shares of LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Truist Financial increased their price target 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $112.20.

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.