NewEdge Wealth LLC Cuts Stock Holdings in LCI Industries (NYSE:LCII)

NewEdge Wealth LLC lessened its holdings in LCI Industries (NYSE:LCII) by 17.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,865 shares of the company’s stock after selling 4,568 shares during the period. NewEdge Wealth LLC owned about 0.09% of LCI Industries worth $2,261,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in LCI Industries by 29.2% in the 4th quarter. Bank of New York Mellon Corp now owns 357,629 shares of the company’s stock worth $36,975,000 after buying an additional 80,784 shares in the last quarter. Edge Capital Group LLC acquired a new position in LCI Industries in the 4th quarter worth $1,216,000. Olympiad Research LP acquired a new position in LCI Industries in the 4th quarter worth $304,000. CIBC Asset Management Inc acquired a new position in LCI Industries in the 4th quarter worth $266,000. Finally, Principal Financial Group Inc. lifted its holdings in LCI Industries by 1.8% in the 4th quarter. Principal Financial Group Inc. now owns 643,507 shares of the company’s stock worth $66,536,000 after buying an additional 11,286 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

LCI Industries Price Performance

LCII opened at $103.74 on Friday. The company has a 50-day moving average of $104.81 and a 200-day moving average of $112.58. The company has a market capitalization of $2.64 billion, a P/E ratio of 18.53 and a beta of 1.44. LCI Industries has a 1-year low of $96.18 and a 1-year high of $129.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 2.82.

LCI Industries (NYSE:LCII) last released its earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share 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 expect that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Friday, March 7th. LCI Industries’s dividend payout ratio is presently 82.14%.

Analyst Ratings Changes

A number of equities analysts have commented on LCII shares. Truist Financial boosted their price objective on shares of LCI Industries from $102.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, February 10th. StockNews.com lowered shares of LCI Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Finally, CJS Securities raised shares of LCI Industries from a “market perform” rating to an “outperform” rating and set a $145.00 target price for the company in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $121.50.

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.