Nuveen Asset Management LLC Increases Holdings in LCI Industries (NYSE:LCII)

Nuveen Asset Management LLC lifted its holdings in shares of LCI Industries (NYSE:LCII - Free Report) by 12.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 96,725 shares of the company's stock after acquiring an additional 10,924 shares during the period. Nuveen Asset Management LLC owned 0.38% of LCI Industries worth $10,000,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of LCI Industries by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 2,913,270 shares of the company's stock valued at $301,203,000 after purchasing an additional 56,794 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in LCI Industries by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company's stock worth $127,904,000 after purchasing an additional 87,764 shares during the period. Principal Financial Group Inc. raised its stake in LCI Industries by 1.8% during the fourth quarter. Principal Financial Group Inc. now owns 643,507 shares of the company's stock worth $66,536,000 after purchasing an additional 11,286 shares during the period. Victory Capital Management Inc. increased its position in shares of LCI Industries by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 636,275 shares of the company's stock worth $65,784,000 after acquiring an additional 15,057 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in LCI Industries by 46.1% during the 4th quarter. Royce & Associates LP now owns 546,623 shares of the company's stock valued at $56,515,000 after purchasing an additional 172,586 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LCII shares. Truist Financial reduced their price target on shares of LCI Industries from $108.00 to $80.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Baird R W downgraded shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Wall Street Zen downgraded shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Robert W. Baird lowered 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, CJS Securities raised shares of LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 target price on the stock in a research note on Wednesday, February 12th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, LCI Industries presently has a consensus rating of "Hold" and a consensus target price of $112.50.

LCI Industries Price Performance

LCI Industries stock traded down $0.11 during trading hours on Thursday, hitting $88.38. 165,223 shares of the company traded hands, compared to its average volume of 308,580. The firm's 50-day simple moving average is $83.47 and its two-hundred day simple moving average is $98.46. The firm has a market cap of $2.23 billion, a P/E ratio of 15.78 and a beta of 1.26. The company has a quick ratio of 1.03, a current ratio of 2.82 and a debt-to-equity ratio of 0.55. LCI Industries has a 1-year low of $72.31 and a 1-year high of $129.38.

LCI Industries (NYSE:LCII - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, topping the consensus estimate of $1.55 by $0.64. LCI Industries had a net margin of 3.82% and a return on equity of 10.28%. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $972.04 million. During the same period last year, the company posted $1.44 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, analysts forecast that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend is Friday, May 30th. LCI Industries's dividend payout ratio (DPR) is currently 75.41%.

LCI Industries declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 15th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are 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.