Norges Bank Takes $26.40 Million Position in LCI Industries (NYSE:LCII)

Norges Bank bought a new position in shares of LCI Industries (NYSE:LCII - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 255,361 shares of the company's stock, valued at approximately $26,402,000. Norges Bank owned 1.00% of LCI Industries at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Strategic Financial Concepts LLC acquired a new position in LCI Industries in the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC raised its position in shares of LCI Industries by 205.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 367 shares of the company's stock valued at $37,000 after buying an additional 247 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of LCI Industries in the 3rd quarter valued at approximately $49,000. Blue Trust Inc. lifted its holdings in shares of LCI Industries by 60.2% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the company's stock worth $64,000 after acquiring an additional 234 shares during the period. Finally, Cibc World Markets Corp acquired a new stake in shares of LCI Industries during the 4th quarter worth approximately $240,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

LCI Industries Price Performance

LCII traded down $0.54 on Friday, reaching $77.00. The stock had a trading volume of 615,536 shares, compared to its average volume of 273,612. The company has a current ratio of 2.82, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 13.75 and a beta of 1.36. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38. The firm has a 50-day moving average of $94.57 and a 200-day moving average of $106.27.

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LCI Industries (NYSE:LCII - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. LCI Industries had a return on equity of 10.28% and a net margin of 3.82%. As a group, sell-side analysts anticipate that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 5.97%. The ex-dividend date was Friday, March 7th. LCI Industries's payout ratio is currently 82.14%.

Analysts Set New Price Targets

Several brokerages have commented on LCII. Robert W. Baird restated a "neutral" rating and set a $100.00 price objective (down from $130.00) on shares of LCI Industries in a research report on Friday, April 4th. Truist Financial boosted their price target on LCI Industries from $102.00 to $108.00 and gave the stock a "hold" rating in a report on Monday, February 10th. Baird R W lowered LCI Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. CJS Securities upgraded LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 target price on the stock in a research report on Wednesday, February 12th. Finally, StockNews.com cut shares of LCI Industries from a "buy" rating to a "hold" rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $117.20.

LCI Industries 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.