Nisa Investment Advisors LLC Lowers Stock Position in LCI Industries (NYSE:LCII)

Nisa Investment Advisors LLC trimmed its holdings in shares of LCI Industries (NYSE:LCII - Free Report) by 29.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,441 shares of the company's stock after selling 4,701 shares during the quarter. Nisa Investment Advisors LLC's holdings in LCI Industries were worth $1,000,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LCII. LRI Investments LLC boosted its stake in shares of LCI Industries by 345.6% in the 4th quarter. LRI Investments LLC now owns 401 shares of the company's stock valued at $41,000 after purchasing an additional 311 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of LCI Industries in the 4th quarter valued at $59,000. Covestor Ltd boosted its stake in shares of LCI Industries by 159.3% in the 4th quarter. Covestor Ltd now owns 765 shares of the company's stock valued at $79,000 after purchasing an additional 470 shares during the last quarter. Lido Advisors LLC bought a new stake in shares of LCI Industries in the 4th quarter valued at $201,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of LCI Industries by 11.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,263 shares of the company's stock valued at $234,000 after purchasing an additional 238 shares during the last quarter. 99.71% of the stock is owned by institutional investors.

LCI Industries Stock Down 0.9%

NYSE LCII traded down $0.87 on Friday, hitting $97.05. 68,315 shares of the company were exchanged, compared to its average volume of 319,051. The company has a market cap of $2.45 billion, a PE ratio of 15.91 and a beta of 1.26. LCI Industries has a 12 month low of $72.31 and a 12 month high of $129.38. The stock has a fifty day moving average of $91.68 and a 200-day moving average of $93.28. The company has a current ratio of 2.96, a quick ratio of 1.41 and a debt-to-equity ratio of 0.68.

LCI Industries (NYSE:LCII - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.64. LCI Industries had a net margin of 4.08% and a return on equity of 11.63%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $972.04 million. During the same quarter in the prior year, the company posted $1.44 earnings per share. The business's revenue was up 8.0% on a year-over-year basis. As a group, analysts forecast that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries declared that its board has authorized a stock buyback program on Thursday, May 15th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 13.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

LCI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $4.60 annualized dividend and a yield of 4.74%. LCI Industries's payout ratio is 75.41%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LCII. Wall Street Zen raised shares of LCI Industries from a "hold" rating to a "buy" rating in a research note on Monday. Truist Financial upped their price objective on shares of LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. Robert W. Baird cut their target price on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Baird R W lowered shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $114.50.

LCI Industries Profile

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.