KLP Kapitalforvaltning AS Has $420,000 Holdings in LCI Industries (NYSE:LCII)

KLP Kapitalforvaltning AS lessened its position in shares of LCI Industries (NYSE:LCII) by 11.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,800 shares of the company’s stock after selling 600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in LCI Industries were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of LCI Industries by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,913,270 shares of the company’s stock worth $301,203,000 after buying an additional 56,794 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of LCI Industries by 7.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company’s stock worth $127,904,000 after buying an additional 87,764 shares during the period. Victory Capital Management Inc. lifted its position in shares of LCI Industries by 9.3% during the 1st quarter. Victory Capital Management Inc. now owns 695,508 shares of the company’s stock worth $60,808,000 after buying an additional 59,233 shares during the period. Northern Trust Corp lifted its position in shares of LCI Industries by 12.9% during the 4th quarter. Northern Trust Corp now owns 319,742 shares of the company’s stock worth $33,058,000 after buying an additional 36,505 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its position in shares of LCI Industries by 5.6% during the 4th quarter. Frontier Capital Management Co. LLC now owns 292,028 shares of the company’s stock worth $30,193,000 after buying an additional 15,408 shares during the period. Institutional investors own 99.71% of the company’s stock.

Analysts Set New Price Targets

LCII has been the subject of several research analyst reports. Robert W. Baird cut their price objective on LCI Industries from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Baird R W downgraded LCI Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Wall Street Zen upgraded LCI Industries from a “hold” rating to a “buy” rating in a research report on Monday, July 14th. Finally, Truist Financial lifted their price objective on LCI Industries from $80.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, June 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, LCI Industries presently has an average rating of “Hold” and an average price target of $114.50.

LCI Industries Trading Down 2.2%

Shares of LCII opened at $96.61 on Thursday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 15.84 and a beta of 1.26. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 2.96. The stock has a fifty day moving average price of $93.29 and a two-hundred day moving average price of $93.03.

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. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $972.04 million. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.44 earnings per share. Analysts predict that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $1.15 per share. The ex-dividend date was Friday, May 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.76%. LCI Industries’s payout ratio is currently 75.41%.

LCI Industries announced that its board has authorized a share repurchase program on Thursday, May 15th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 13.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.