CIBC Asset Management Inc Makes New Investment in LCI Industries (NYSE:LCII)

CIBC Asset Management Inc acquired a new stake in LCI Industries (NYSE:LCII) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,576 shares of the company’s stock, valued at approximately $266,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Royce & Associates LP grew its stake in LCI Industries by 22.5% in the 3rd quarter. Royce & Associates LP now owns 374,037 shares of the company’s stock worth $45,086,000 after acquiring an additional 68,682 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of LCI Industries by 6.1% during 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. Conestoga Capital Advisors LLC grew its position in shares of LCI Industries by 26.5% in the third quarter. Conestoga Capital Advisors LLC now owns 163,006 shares of the company’s stock valued at $19,649,000 after purchasing an additional 34,110 shares during the period. Franklin Resources Inc. increased its stake in LCI Industries by 11.0% in the third quarter. Franklin Resources Inc. now owns 317,439 shares of the company’s stock valued at $37,607,000 after purchasing an additional 31,376 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in LCI Industries by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 411,278 shares of the company’s stock worth $49,575,000 after buying an additional 29,192 shares during the period. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Analysts Set New Price Targets

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

LCI Industries Stock Up 0.9 %

LCII opened at $106.26 on Tuesday. The company has a market cap of $2.71 billion, a PE ratio of 18.98 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 2.82. LCI Industries has a 1 year low of $96.18 and a 1 year high of $129.38. The firm has a 50 day moving average price of $104.95 and a 200 day moving average price of $112.74.

LCI Industries (NYSE:LCII) last issued its earnings results on Tuesday, February 11th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. LCI Industries had a net margin of 3.82% and a return on equity of 10.28%. Sell-side analysts expect that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend is Friday, March 7th. LCI Industries’s payout ratio is 82.14%.

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.