LCI Industries (NYSE:LCII) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in LCI Industries (NYSE:LCII - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 582,866 shares of the company's stock after selling 60,641 shares during the period. Principal Financial Group Inc. owned about 2.31% of LCI Industries worth $50,960,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in LCI Industries by 205.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 367 shares of the company's stock valued at $37,000 after purchasing an additional 247 shares during the period. LRI Investments LLC increased its holdings in LCI Industries by 345.6% during the fourth quarter. LRI Investments LLC now owns 401 shares of the company's stock valued at $41,000 after buying an additional 311 shares during the last quarter. Headlands Technologies LLC purchased a new stake in LCI Industries during the fourth quarter valued at approximately $59,000. Covestor Ltd increased its holdings in LCI Industries by 159.3% during the fourth quarter. Covestor Ltd now owns 765 shares of the company's stock valued at $79,000 after buying an additional 470 shares during the last quarter. Finally, Lido Advisors LLC purchased a new stake in LCI Industries during the fourth quarter valued at approximately $201,000. Institutional investors own 99.71% of the company's stock.

LCI Industries Stock Performance

LCII stock traded up $1.79 during trading on Thursday, reaching $101.48. The company had a trading volume of 313,832 shares, compared to its average volume of 407,809. The firm has a 50-day simple moving average of $89.62 and a 200-day simple moving average of $93.46. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 16.64 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 2.96. LCI Industries has a twelve month low of $72.31 and a twelve month high of $129.38.

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

LCI Industries declared that its board has initiated a stock repurchase plan on Thursday, May 15th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

LCI Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Friday, May 30th. LCI Industries's dividend payout ratio (DPR) is currently 75.41%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Baird R W cut shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Wall Street Zen cut shares of LCI Industries from a "buy" rating to a "hold" rating in a research note on Sunday. Robert W. Baird cut their target price on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Truist Financial raised their target price 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. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $114.50.

LCI Industries Company 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.