Principal Financial Group Inc. Increases Position in LCI Industries (NYSE:LCII)

Principal Financial Group Inc. lifted its stake in LCI Industries (NYSE:LCII - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 643,507 shares of the company's stock after acquiring an additional 11,286 shares during the period. Principal Financial Group Inc. owned 2.53% of LCI Industries worth $66,536,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in LCI Industries by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 411,278 shares of the company's stock worth $49,575,000 after purchasing an additional 29,192 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of LCI Industries in the 4th quarter worth $2,394,000. International Assets Investment Management LLC grew its stake in LCI Industries by 5,533.7% during the 3rd quarter. International Assets Investment Management LLC now owns 10,366 shares of the company's stock worth $1,250,000 after buying an additional 10,182 shares during the last quarter. MML Investors Services LLC acquired a new position in LCI Industries during the 3rd quarter valued at about $260,000. Finally, Blue Trust Inc. raised its stake in LCI Industries by 1,289.3% in the third quarter. Blue Trust Inc. now owns 389 shares of the company's stock valued at $47,000 after buying an additional 361 shares during the last quarter. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LCII has been the topic of a number of research analyst reports. Truist Financial boosted their price target on LCI Industries from $102.00 to $108.00 and gave the stock a "hold" rating in a research note on Monday, February 10th. StockNews.com downgraded shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, February 15th. Finally, CJS Securities upgraded shares of LCI Industries from a "market perform" rating to an "outperform" rating and set a $145.00 price objective for the company in a research note on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $121.50.

Insider Activity

In related news, CEO Jason Lippert sold 10,000 shares of LCI Industries stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 373,145 shares in the company, valued at $47,016,270. The trade was a 2.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.50% of the company's stock.

LCI Industries Stock Performance

NYSE:LCII traded down $2.20 during midday trading on Thursday, hitting $106.93. The company's stock had a trading volume of 271,528 shares, compared to its average volume of 269,171. 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 has a fifty-two week low of $96.18 and a fifty-two week high of $129.38. The firm's 50 day moving average is $105.49 and its 200-day moving average is $112.81. The firm has a market cap of $2.72 billion, a P/E ratio of 19.09 and a beta of 1.44.

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

LCI Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $1.15 per share. The ex-dividend date is Friday, March 7th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.30%. LCI Industries's payout ratio is 82.14%.

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.