Nordea Investment Management AB Acquires New Shares in LCI Industries (NYSE:LCII)

Nordea Investment Management AB acquired a new position in shares of LCI Industries (NYSE:LCII - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 23,102 shares of the company's stock, valued at approximately $2,394,000. Nordea Investment Management AB owned 0.09% of LCI Industries as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Commonwealth Equity Services LLC grew its position in LCI Industries by 9.9% in the second quarter. Commonwealth Equity Services LLC now owns 3,574 shares of the company's stock valued at $370,000 after purchasing an additional 322 shares in the last quarter. Arizona State Retirement System grew its position in LCI Industries by 1.9% in the second quarter. Arizona State Retirement System now owns 7,090 shares of the company's stock valued at $733,000 after purchasing an additional 130 shares in the last quarter. Texas Permanent School Fund Corp grew its position in LCI Industries by 4.6% in the second quarter. Texas Permanent School Fund Corp now owns 23,187 shares of the company's stock valued at $2,397,000 after purchasing an additional 1,023 shares in the last quarter. American Century Companies Inc. grew its position in LCI Industries by 30.5% in the second quarter. American Century Companies Inc. now owns 418,588 shares of the company's stock valued at $43,274,000 after purchasing an additional 97,877 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in LCI Industries in the second quarter valued at $529,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

LCI Industries Stock Performance

Shares of LCII traded down $3.57 during midday trading on Friday, reaching $98.67. The stock had a trading volume of 314,106 shares, compared to its average volume of 198,701. The firm has a 50 day simple moving average of $112.29 and a 200-day simple moving average of $113.16. LCI Industries has a one year low of $96.18 and a one year high of $129.38. The firm has a market cap of $2.51 billion, a PE ratio of 19.20 and a beta of 1.41. The company has a current ratio of 2.88, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58.

LCI Industries (NYSE:LCII - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. The business had revenue of $915.50 million during the quarter, compared to the consensus estimate of $922.85 million. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. LCI Industries's revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 EPS. As a group, sell-side analysts anticipate that LCI Industries will post 5.51 EPS for the current year.

LCI Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $1.15 per share. This is an increase from LCI Industries's previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, November 29th. This represents a $4.60 annualized dividend and a dividend yield of 4.66%. LCI Industries's payout ratio is presently 89.49%.

Insiders Place Their Bets

In other LCI Industries news, CEO Jason Lippert sold 10,000 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $126.00, for a total value of $1,260,000.00. Following the sale, the chief executive officer now owns 373,145 shares of the company's stock, valued at approximately $47,016,270. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Raymond James assumed coverage on shares of LCI Industries in a research report on Tuesday, October 1st. They issued a "market perform" rating for the company. StockNews.com downgraded shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Truist Financial decreased their price objective on shares of LCI Industries from $108.00 to $102.00 and set a "hold" rating for the company in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $111.00.

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.