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

State of New Jersey Common Pension Fund D raised its position in LCI Industries (NYSE:LCII) by 15.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,666 shares of the company’s stock after buying an additional 3,028 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.09% of LCI Industries worth $2,849,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in LCI Industries in the 4th quarter worth approximately $81,000. B. Riley Wealth Advisors Inc. bought a new position in shares of LCI Industries in the third quarter worth $204,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of LCI Industries in the third quarter valued at $253,000. Advisor OS LLC raised its stake in shares of LCI Industries by 5.1% during the 3rd quarter. Advisor OS LLC now owns 2,167 shares of the company’s stock valued at $255,000 after purchasing an additional 105 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in LCI Industries during the 3rd quarter worth about $288,000. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LCII. BMO Capital Markets lowered LCI Industries from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $105.00 to $100.00 in a report on Monday, January 22nd. Robert W. Baird cut their price objective on shares of LCI Industries from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Roth Mkm decreased their target price on shares of LCI Industries from $113.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Finally, Truist Financial reiterated a “hold” rating and issued a $110.00 target price (down from $140.00) on shares of LCI Industries in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.20.

LCI Industries Trading Up 0.2 %

Shares of LCII opened at $107.49 on Tuesday. LCI Industries has a 1-year low of $102.39 and a 1-year high of $137.07. The company has a market capitalization of $2.74 billion, a P/E ratio of 42.49 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.83 and a quick ratio of 0.88. The firm’s 50 day simple moving average is $115.33 and its 200 day simple moving average is $115.87.

LCI Industries (NYSE:LCII) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.24). LCI Industries had a net margin of 1.70% and a return on equity of 4.70%. The company had revenue of $837.54 million for the quarter, compared to analysts’ expectations of $835.99 million. During the same quarter last year, the business posted ($0.68) EPS. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. Sell-side analysts forecast that LCI Industries will post 5.71 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Thursday, March 7th. LCI Industries’s payout ratio is currently 166.01%.

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.