KLP Kapitalforvaltning AS Acquires 600 Shares of LCI Industries $LCII

KLP Kapitalforvaltning AS lifted its position in shares of LCI Industries (NYSE:LCII) by 12.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,400 shares of the company’s stock after acquiring an additional 600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in LCI Industries were worth $492,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. bought a new position in shares of LCI Industries during the 2nd quarter worth $218,000. Hilltop National Bank purchased a new stake in LCI Industries during the 2nd quarter worth about $66,000. Signaturefd LLC lifted its holdings in LCI Industries by 591.5% during the 2nd quarter. Signaturefd LLC now owns 325 shares of the company’s stock worth $30,000 after purchasing an additional 278 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of LCI Industries by 6.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 15,029 shares of the company’s stock valued at $1,369,000 after acquiring an additional 920 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of LCI Industries by 129.0% in the 2nd quarter. GAMMA Investing LLC now owns 758 shares of the company’s stock valued at $69,000 after acquiring an additional 427 shares in the last quarter. Institutional investors own 99.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LCII. BMO Capital Markets raised their price target on LCI Industries from $80.00 to $85.00 and gave the company an “underperform” rating in a report on Wednesday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of LCI Industries in a report on Wednesday, October 8th. Truist Financial raised their price objective on LCI Industries from $88.00 to $91.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Wall Street Zen upgraded LCI Industries from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $104.00.

LCI Industries Price Performance

Shares of LCII stock opened at $87.99 on Friday. The firm has a market cap of $2.13 billion, a P/E ratio of 14.69 and a beta of 1.31. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38. The business’s 50 day moving average price is $98.33 and its 200-day moving average price is $92.13. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.34 and a current ratio of 2.80.

LCI Industries (NYSE:LCII) last released its quarterly earnings results on Tuesday, June 7th. The company reported $2.93 earnings per share for the quarter. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%.The company had revenue of $1 billion for the quarter. On average, equities research analysts anticipate that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a dividend of $1.15 per share. The ex-dividend date was Friday, August 29th. This represents a $4.60 annualized dividend and a dividend yield of 5.2%. LCI Industries’s payout ratio is currently 76.79%.

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.