Connor Clark & Lunn Investment Management Ltd. Buys Shares of 6,512 LCI Industries (NYSE:LCII)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in LCI Industries (NYSE:LCII) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,512 shares of the company’s stock, valued at approximately $785,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in shares of LCI Industries by 30.5% in the second quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock worth $43,274,000 after acquiring an additional 97,877 shares in the last quarter. Royce & Associates LP increased its holdings in shares of LCI Industries by 22.5% in the third quarter. Royce & Associates LP now owns 374,037 shares of the company’s stock worth $45,086,000 after acquiring an additional 68,682 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of LCI Industries by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock worth $114,945,000 after acquiring an additional 62,354 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of LCI Industries by 6.1% in the third quarter. Principal Financial Group Inc. now owns 632,221 shares of the company’s stock worth $76,202,000 after acquiring an additional 36,487 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in shares of LCI Industries by 26.5% in the third 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 in the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.

Insider Buying and Selling at LCI Industries

In other LCI Industries 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 completion of the transaction, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

LCII has been the subject of several recent analyst reports. Raymond James initiated coverage on LCI Industries in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. Truist Financial increased their price target on LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Benchmark reiterated a “buy” rating and set a $130.00 price objective on shares of LCI Industries in a report on Wednesday, August 7th. Finally, StockNews.com downgraded LCI Industries from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $112.20.

LCI Industries Stock Down 0.6 %

NYSE:LCII opened at $122.50 on Friday. 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 company has a market cap of $3.12 billion, a PE ratio of 23.83 and a beta of 1.41. LCI Industries has a 52-week low of $96.18 and a 52-week high of $131.36. The stock has a 50-day simple moving average of $117.61 and a 200 day simple moving average of $112.50.

LCI Industries (NYSE:LCII) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. The firm had revenue of $915.50 million during the quarter, compared to the consensus estimate of $922.85 million. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. The business’s revenue was down 4.6% compared to the same quarter last year. During the same period last year, the company earned $1.02 earnings per share. On average, sell-side analysts expect 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 will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.76%. This is an increase from LCI Industries’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is 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.