Teacher Retirement System of Texas Purchases 5,484 Shares of LCI Industries (NYSE:LCII)

Teacher Retirement System of Texas lifted its holdings in shares of LCI Industries (NYSE:LCII - Free Report) by 136.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,503 shares of the company's stock after buying an additional 5,484 shares during the period. Teacher Retirement System of Texas' holdings in LCI Industries were worth $831,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. LRI Investments LLC boosted its stake in shares of LCI Industries by 345.6% during the 4th quarter. LRI Investments LLC now owns 401 shares of the company's stock worth $41,000 after buying an additional 311 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of LCI Industries during the 4th quarter worth about $59,000. Covestor Ltd boosted its stake in shares of LCI Industries by 159.3% during the 4th quarter. Covestor Ltd now owns 765 shares of the company's stock worth $79,000 after buying an additional 470 shares during the last quarter. Lido Advisors LLC acquired a new position in shares of LCI Industries during the 4th quarter worth about $201,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in 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 currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LCII shares. Wall Street Zen upgraded shares of LCI Industries from a "hold" rating to a "buy" rating in a research note on Monday. Baird R W downgraded shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $114.50.

LCI Industries Stock Performance

LCI Industries stock traded down $0.63 during trading hours on Friday, hitting $97.28. The company had a trading volume of 64,732 shares, compared to its average volume of 401,011. The firm has a market cap of $2.46 billion, a PE ratio of 15.94 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.96 and a quick ratio of 1.41. LCI Industries has a one year low of $72.31 and a one year high of $129.38. The firm has a 50-day moving average of $91.68 and a 200 day moving average of $93.28.

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

LCI Industries declared that its Board of Directors has approved 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 purchase up to 13.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

LCI Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $1.15 per share. The ex-dividend date was Friday, May 30th. This represents a $4.60 annualized dividend and a dividend yield of 4.73%. LCI Industries's dividend payout ratio is presently 75.41%.

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.