Mirae Asset Global Investments Co. Ltd. Raises Stock Position in LCI Industries (NYSE:LCII)

Mirae Asset Global Investments Co. Ltd. grew its holdings in LCI Industries (NYSE:LCII) by 5.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 11,394 shares of the company’s stock after purchasing an additional 581 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in LCI Industries were worth $1,432,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in shares of LCI Industries in the 3rd quarter valued at $1,202,000. American Century Companies Inc. increased its stake in LCI Industries by 20.3% during the 3rd quarter. American Century Companies Inc. now owns 298,654 shares of the company’s stock worth $35,068,000 after buying an additional 50,470 shares during the period. Deutsche Bank AG increased its stake in LCI Industries by 9.1% during the 3rd quarter. Deutsche Bank AG now owns 12,688 shares of the company’s stock worth $1,490,000 after buying an additional 1,062 shares during the period. Pacer Advisors Inc. increased its stake in LCI Industries by 70.9% during the 4th quarter. Pacer Advisors Inc. now owns 824,702 shares of the company’s stock worth $103,673,000 after buying an additional 342,165 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in LCI Industries during the 4th quarter worth $2,924,000. Hedge funds and other institutional investors own 99.71% of the company’s stock.

LCI Industries Price Performance

Shares of LCII stock opened at $106.42 on Monday. LCI Industries has a 1-year low of $102.39 and a 1-year high of $137.07. The firm has a fifty day moving average of $116.78 and a two-hundred day moving average of $116.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.83 and a quick ratio of 0.88. The firm has a market cap of $2.71 billion, a P/E ratio of 42.06 and a beta of 1.40.

LCI Industries (NYSE:LCII) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.24). LCI Industries had a net margin of 1.70% and a return on equity of 4.70%. The business had revenue of $837.54 million during the quarter, compared to analyst estimates of $835.99 million. During the same period last year, the firm posted ($0.68) earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, research analysts anticipate that LCI Industries will post 5.71 earnings per share for the current fiscal year.

LCI Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, March 7th. LCI Industries’s dividend payout ratio (DPR) is presently 166.01%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LCII. Robert W. Baird dropped their price target on shares of LCI Industries from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Roth Mkm dropped their price target on shares of LCI Industries from $113.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. BMO Capital Markets lowered shares of LCI Industries from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $105.00 to $100.00 in a report on Monday, January 22nd. Finally, Truist Financial reissued a “hold” rating and set a $110.00 price objective (down from $140.00) on shares of LCI Industries in a report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $104.20.

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.