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

State of New Jersey Common Pension Fund D reduced its position in LCI Industries (NYSE:LCII) by 7.8% in the third quarter, Holdings Channel.com reports. The fund 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’s holdings in LCI Industries were worth $1,959,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in LCI Industries by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 2,800,882 shares of the company’s stock valued at $344,677,000 after buying an additional 15,670 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in LCI Industries by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock valued at $114,945,000 after buying an additional 62,354 shares during the last quarter. Principal Financial Group Inc. raised its stake in LCI Industries by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 632,221 shares of the company’s stock valued at $76,202,000 after buying an additional 36,487 shares during the last quarter. American Century Companies Inc. raised its stake in LCI Industries by 30.5% during the 2nd quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock valued at $43,274,000 after buying an additional 97,877 shares during the last quarter. Finally, Raymond James & Associates raised its stake in LCI Industries by 4.7% during the 3rd quarter. Raymond James & Associates now owns 308,166 shares of the company’s stock valued at $37,146,000 after buying an additional 13,866 shares during the last quarter. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LCII. Truist Financial boosted their target price on shares of LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Friday, September 20th. StockNews.com lowered LCI Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Raymond James assumed coverage on LCI Industries in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, Benchmark restated a “buy” rating and issued a $130.00 price objective on shares of LCI Industries in a research note on Wednesday, August 7th. One equities 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 stock. Based on data from MarketBeat.com, LCI Industries has a consensus rating of “Hold” and a consensus price target of $112.20.

LCI Industries Trading Up 0.4 %

Shares of LCI Industries stock opened at $114.69 on Monday. The company has a market capitalization of $2.92 billion, a P/E ratio of 22.31 and a beta of 1.41. 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 company has a fifty day moving average of $116.95 and a 200 day moving average of $111.81. LCI Industries has a fifty-two week low of $96.18 and a fifty-two week high of $131.36.

LCI Industries (NYSE:LCII) last issued its earnings results on Thursday, November 7th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.08. The company had revenue of $915.50 million during 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%. LCI Industries’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 EPS. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from LCI Industries’s previous quarterly dividend of $1.05. LCI Industries’s dividend payout ratio is 81.71%.

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.