Maryland State Retirement & Pension System Sells 124 Shares of LCI Industries (NYSE:LCII)

Maryland State Retirement & Pension System trimmed its position in LCI Industries (NYSE:LCII) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,204 shares of the company’s stock after selling 124 shares during the quarter. Maryland State Retirement & Pension System’s holdings in LCI Industries were worth $1,157,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of LCI Industries in the 4th quarter valued at $81,000. B. Riley Wealth Advisors Inc. bought a new position in LCI Industries in the third quarter valued at about $204,000. Envestnet Portfolio Solutions Inc. acquired a new position in LCI Industries during the third quarter worth about $253,000. Advisor OS LLC raised its stake in LCI Industries by 5.1% during the third quarter. Advisor OS LLC now owns 2,167 shares of the company’s stock worth $255,000 after acquiring an additional 105 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in shares of LCI Industries in the third quarter worth about $288,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

LCI Industries Stock Performance

NYSE LCII opened at $111.20 on Thursday. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 43.95 and a beta of 1.41. The company has a quick ratio of 0.88, a current ratio of 2.83 and a debt-to-equity ratio of 0.62. LCI Industries has a twelve month low of $102.39 and a twelve month high of $137.07. The stock has a fifty day simple moving average of $113.02 and a 200 day simple moving average of $115.48.

LCI Industries (NYSE:LCII) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.09) earnings per share 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 company had revenue of $837.54 million during the quarter, compared to analyst estimates of $835.99 million. During the same period in the previous year, the company posted ($0.68) EPS. The company’s quarterly revenue was down 6.4% on a year-over-year basis. Sell-side analysts expect that LCI Industries will post 5.71 EPS for the current year.

LCI Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $1.05 per share. The ex-dividend date was Thursday, March 7th. This represents a $4.20 annualized dividend and a yield of 3.78%. LCI Industries’s payout ratio is 166.01%.

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.