Principal Financial Group Inc. Buys 36,487 Shares of LCI Industries (NYSE:LCII)

Principal Financial Group Inc. lifted its holdings in shares of LCI Industries (NYSE:LCII - Free Report) by 6.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 632,221 shares of the company's stock after buying an additional 36,487 shares during the period. Principal Financial Group Inc. owned about 2.48% of LCI Industries worth $76,202,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Radnor Capital Management LLC boosted its position in LCI Industries by 3.7% in the third quarter. Radnor Capital Management LLC now owns 11,275 shares of the company's stock valued at $1,359,000 after buying an additional 400 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of LCI Industries by 19.0% in the 3rd quarter. QRG Capital Management Inc. now owns 2,384 shares of the company's stock valued at $287,000 after acquiring an additional 380 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of LCI Industries by 1.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 15,459 shares of the company's stock valued at $1,863,000 after acquiring an additional 258 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in LCI Industries by 26.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 163,006 shares of the company's stock worth $19,649,000 after acquiring an additional 34,110 shares during the last quarter. Finally, Argent Capital Management LLC increased its holdings in LCI Industries by 14.5% in the 3rd quarter. Argent Capital Management LLC now owns 2,229 shares of the company's stock worth $269,000 after purchasing an additional 282 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors.

LCI Industries Trading Up 0.8 %

Shares of NYSE:LCII traded up $0.90 during midday trading on Friday, reaching $116.04. The company's stock had a trading volume of 232,167 shares, compared to its average volume of 205,194. LCI Industries has a fifty-two week low of $96.18 and a fifty-two week high of $131.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.23 and a current ratio of 2.82. The firm has a 50 day moving average price of $116.94 and a two-hundred day moving average price of $111.55. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 24.33 and a beta of 1.41.

LCI Industries (NYSE:LCII - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. LCI Industries had a return on equity of 8.85% and a net margin of 3.17%. The firm had revenue of $915.50 million for the quarter, compared to analyst estimates of $922.85 million. During the same period in the previous year, the firm earned $1.02 earnings per share. The company's revenue was down 4.6% compared to the same quarter last year. As a group, analysts forecast that LCI Industries will post 5.97 earnings per share for the current year.

LCI Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Friday, August 30th. LCI Industries's payout ratio is 88.05%.

Analysts Set New Price Targets

A number of brokerages have recently commented on LCII. Raymond James started coverage on LCI Industries in a research note on Tuesday, October 1st. They set a "market perform" rating on the stock. Truist Financial raised their price objective on shares of LCI Industries from $100.00 to $108.00 and gave the company a "hold" rating in a report on Friday, September 20th. StockNews.com lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a report on Tuesday, October 8th. Finally, Benchmark reaffirmed a "buy" rating and set a $130.00 price target on shares of LCI Industries in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, LCI Industries presently has an average rating of "Hold" and an average price target of $112.20.

About LCI Industries

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.