LCI Industries (NYSE:LCII) Stake Cut by Glenmede Trust Co. NA

Glenmede Trust Co. NA decreased its holdings in shares of LCI Industries (NYSE:LCII) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,632 shares of the company’s stock after selling 940 shares during the period. Glenmede Trust Co. NA owned about 0.33% of LCI Industries worth $10,081,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of LCI Industries by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock valued at $114,945,000 after buying an additional 62,354 shares during the last quarter. Principal Financial Group Inc. grew 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 valued at $76,202,000 after purchasing an additional 36,487 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of LCI Industries by 2.5% during the third quarter. Victory Capital Management Inc. now owns 621,218 shares of the company’s stock valued at $74,882,000 after purchasing an additional 14,969 shares during the last quarter. American Century Companies Inc. raised its position in shares of LCI Industries by 30.5% during the 2nd quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock worth $43,274,000 after purchasing an additional 97,877 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of LCI Industries by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 411,278 shares of the company’s stock worth $49,575,000 after purchasing an additional 29,192 shares during the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LCII shares. StockNews.com downgraded LCI Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Truist Financial upped their price target on shares of LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Benchmark reiterated a “buy” rating and issued a $130.00 price objective on shares of LCI Industries in a research report on Wednesday, August 7th. Finally, Raymond James assumed coverage on shares of LCI Industries in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $112.20.

LCI Industries Price Performance

Shares of LCII opened at $120.81 on Friday. LCI Industries has a one year low of $96.18 and a one year high of $131.36. The stock’s fifty day moving average is $117.60 and its 200-day moving average is $112.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 2.88. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 23.50 and a beta of 1.41.

LCI Industries (NYSE:LCII) last released its earnings results on Thursday, November 7th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.31 by $0.08. The firm had revenue of $915.50 million for the quarter, compared to analysts’ expectations of $922.85 million. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. LCI Industries’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the company earned $1.02 EPS. Equities analysts anticipate that LCI Industries will post 5.51 EPS for the current year.

LCI Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $1.15 per share. This is a boost from LCI Industries’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, November 29th. This represents a $4.60 annualized dividend and a yield of 3.81%. LCI Industries’s payout ratio is presently 81.71%.

Insiders Place Their Bets

In related news, CEO Jason Lippert sold 10,000 shares of LCI Industries stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $126.00, for a total transaction of $1,260,000.00. Following the transaction, the chief executive officer now directly owns 373,145 shares of the company’s stock, valued at $47,016,270. The trade was a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.50% of the stock is currently owned by insiders.

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.