New York Life Investment Management LLC Lowers Holdings in LCI Industries (NYSE:LCII)

New York Life Investment Management LLC trimmed its holdings in LCI Industries (NYSE:LCIIFree Report) by 13.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,240 shares of the company’s stock after selling 511 shares during the quarter. New York Life Investment Management LLC’s holdings in LCI Industries were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC purchased a new position in LCI Industries in the 2nd quarter valued at about $28,000. CWM LLC raised its holdings in LCI Industries by 69.1% in the 2nd quarter. CWM LLC now owns 230 shares of the company’s stock valued at $29,000 after acquiring an additional 94 shares during the last quarter. Covestor Ltd increased its holdings in shares of LCI Industries by 85.3% during the 1st quarter. Covestor Ltd now owns 417 shares of the company’s stock worth $43,000 after buying an additional 192 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of LCI Industries during the 2nd quarter worth approximately $93,000. Finally, Bessemer Group Inc. increased its holdings in LCI Industries by 22.9% in the 2nd quarter. Bessemer Group Inc. now owns 822 shares of the company’s stock valued at $104,000 after purchasing an additional 153 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

LCI Industries Stock Performance

Shares of LCII stock opened at $114.70 on Monday. LCI Industries has a one year low of $100.25 and a one year high of $137.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.06 and a current ratio of 2.97. The company has a 50 day moving average price of $119.23 and a 200 day moving average price of $118.52. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 59.12 and a beta of 1.38.

LCI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Thursday, November 30th. LCI Industries’s payout ratio is currently 216.50%.

Insider Transactions at LCI Industries

In related news, Director Brendan Deely sold 2,750 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $116.31, for a total value of $319,852.50. Following the sale, the director now owns 11,629 shares of the company’s stock, valued at approximately $1,352,568.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. TheStreet downgraded shares of LCI Industries from a “b-” rating to a “c” rating in a report on Tuesday, November 7th. BMO Capital Markets downgraded shares of LCI Industries from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $105.00 to $100.00 in a report on Monday, January 22nd. Roth Mkm decreased their price objective on shares of LCI Industries from $113.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, Truist Financial reiterated a “hold” rating and set a $110.00 price target (down from $140.00) on shares of LCI Industries in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $107.50.

Check Out Our Latest Report on LCI Industries

LCI Industries Profile

(Free Report)

LCI Industries, together with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures and distributes a range of engineered components, such as steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; electronic components; appliances; air conditioners; televisions and sound systems; tankless water heaters; towing products; truck accessories; and other accessories.

Further Reading

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Institutional Ownership by Quarter for LCI Industries (NYSE:LCII)

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