The Manufacturers Life Insurance Company Sells 193 Shares of LCI Industries (NYSE:LCII)

The Manufacturers Life Insurance Company trimmed its holdings in LCI Industries (NYSE:LCII) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,712 shares of the company’s stock after selling 193 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in LCI Industries were worth $1,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of LCI Industries by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 436,423 shares of the company’s stock worth $45,122,000 after acquiring an additional 25,145 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of LCI Industries by 1.8% during the 4th quarter. Principal Financial Group Inc. now owns 643,507 shares of the company’s stock worth $66,536,000 after acquiring an additional 11,286 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in shares of LCI Industries during the 4th quarter worth approximately $266,000. Smartleaf Asset Management LLC raised its holdings in shares of LCI Industries by 205.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 367 shares of the company’s stock worth $37,000 after acquiring an additional 247 shares in the last quarter. Finally, Congress Asset Management Co. raised its holdings in shares of LCI Industries by 10.1% during the 4th quarter. Congress Asset Management Co. now owns 57,565 shares of the company’s stock worth $5,952,000 after acquiring an additional 5,303 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors.

LCI Industries Stock Performance

LCII stock opened at $89.76 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 2.82 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $83.97 and its two-hundred day simple moving average is $100.56. LCI Industries has a twelve month low of $72.31 and a twelve month high of $129.38. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 16.03 and a beta of 1.26.

LCI Industries (NYSE:LCII) last released its earnings results on Tuesday, May 6th. The company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.64. LCI Industries had a return on equity of 10.28% and a net margin of 3.82%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $972.04 million. During the same quarter last year, the firm posted $1.44 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. Analysts predict that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $1.15 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.60 dividend on an annualized basis and a yield of 5.13%. LCI Industries’s payout ratio is 75.41%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LCII. Baird R W cut LCI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Robert W. Baird decreased their price objective on LCI Industries from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. CJS Securities upgraded LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 price target on the stock in a report on Wednesday, February 12th. StockNews.com upgraded LCI Industries from a “hold” rating to a “buy” rating in a report on Monday. Finally, Truist Financial decreased their price target on LCI Industries from $108.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $110.60.

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.