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

Principal Financial Group Inc. grew its holdings in shares of LCI Industries (NYSE:LCII - Free Report) by 6.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 632,221 shares of the company's stock after purchasing an additional 36,487 shares during the quarter. Principal Financial Group Inc. owned approximately 2.48% of LCI Industries worth $76,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. raised its stake in LCI Industries by 11.0% during the 3rd quarter. Franklin Resources Inc. now owns 317,439 shares of the company's stock worth $37,607,000 after acquiring an additional 31,376 shares during the period. Tidal Investments LLC increased its stake in shares of LCI Industries by 2.4% in the third quarter. Tidal Investments LLC now owns 9,402 shares of the company's stock worth $1,133,000 after purchasing an additional 223 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of LCI Industries during the 3rd quarter valued at $49,000. SkyView Investment Advisors LLC lifted its stake in shares of LCI Industries by 2.9% during the 3rd quarter. SkyView Investment Advisors LLC now owns 5,069 shares of the company's stock valued at $611,000 after buying an additional 143 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in LCI Industries by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 564,761 shares of the company's stock worth $68,090,000 after buying an additional 1,688 shares during the period. Hedge funds and other institutional investors own 99.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial boosted their target price on shares of LCI Industries from $100.00 to $108.00 and gave the stock a "hold" rating in a report on Friday, September 20th. Raymond James initiated coverage on LCI Industries in a report on Tuesday, October 1st. They issued a "market perform" rating for the company. Finally, StockNews.com lowered LCI Industries from a "buy" rating to a "hold" rating in a report on Tuesday, October 8th. One investment 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 data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $112.20.

Insider Buying and Selling at LCI Industries

In other news, CEO Jason Lippert sold 10,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 373,145 shares in the company, valued at $47,016,270. This trade represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.50% of the stock is currently owned by corporate insiders.

LCI Industries Stock Down 0.5 %

LCII traded down $0.48 on Friday, hitting $104.65. The company had a trading volume of 956,112 shares, compared to its average volume of 229,498. LCI Industries has a 12-month low of $96.18 and a 12-month high of $131.36. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 20.36 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 2.88. The stock has a fifty day moving average price of $116.47 and a 200-day moving average price of $113.17.

LCI Industries (NYSE:LCII - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.08. The company had revenue of $915.50 million for 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 earned $1.02 EPS. Analysts predict that LCI Industries will post 5.51 EPS for the current fiscal year.

LCI Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $1.15 per share. This is an increase from LCI Industries's previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 4.40%. The ex-dividend date was Friday, November 29th. LCI Industries's dividend payout ratio (DPR) is currently 89.49%.

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.