Northern Trust Corp Has $33.06 Million Stake in LCI Industries (NYSE:LCII)

Northern Trust Corp increased its position in LCI Industries (NYSE:LCII - Free Report) by 12.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 319,742 shares of the company's stock after purchasing an additional 36,505 shares during the period. Northern Trust Corp owned about 1.26% of LCI Industries worth $33,058,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of LCI Industries during the 3rd quarter worth $49,000. Principal Financial Group Inc. lifted its holdings in shares of LCI Industries by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 632,221 shares of the company's stock worth $76,202,000 after acquiring an additional 36,487 shares during the period. Nordea Investment Management AB bought a new position in shares of LCI Industries in the fourth quarter valued at approximately $2,394,000. Argent Capital Management LLC increased its stake in shares of LCI Industries by 38.7% in the fourth quarter. Argent Capital Management LLC now owns 3,092 shares of the company's stock valued at $320,000 after buying an additional 863 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of LCI Industries by 10.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,142 shares of the company's stock worth $1,669,000 after acquiring an additional 1,561 shares during the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

LCI Industries Stock Up 2.2%

Shares of LCII traded up $1.92 during midday trading on Friday, hitting $90.88. The stock had a trading volume of 139,832 shares, compared to its average volume of 433,706. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 16.23 and a beta of 1.26. The company has a 50 day simple moving average of $83.46 and a two-hundred day simple moving average of $100.23. LCI Industries has a twelve month low of $72.31 and a twelve month high of $129.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.82 and a quick ratio of 1.03.

LCI Industries (NYSE:LCII - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.64. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $972.04 million. LCI Industries had a return on equity of 10.28% and a net margin of 3.82%. LCI Industries's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 EPS. On average, analysts anticipate that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Announces Dividend

The firm 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 $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 5.06%. LCI Industries's dividend payout ratio (DPR) is currently 75.41%.

LCI Industries declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 15th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have weighed in on the company. Truist Financial dropped their price objective on LCI Industries from $108.00 to $80.00 and set a "hold" rating for the company in a report on Monday, April 14th. StockNews.com upgraded LCI Industries from a "hold" rating to a "buy" rating in a report 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 reduced their price target on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report 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 price target for the company in a report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, LCI Industries currently has an average rating of "Hold" and an average price target of $112.50.

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.