NJ State Employees Deferred Compensation Plan Maintains Position in LCI Industries (NASDAQ:LCII)
NJ State Employees Deferred Compensation Plan continued to hold its stake in LCI Industries (NASDAQ:LCII) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the company’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in LCI Industries were worth $410,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Bowling Portfolio Management LLC raised its stake in LCI Industries by 39.5% in the second quarter. Bowling Portfolio Management LLC now owns 6,892 shares of the company’s stock valued at $706,000 after buying an additional 1,953 shares in the last quarter. Congress Asset Management Co. MA raised its stake in LCI Industries by 11.4% in the second quarter. Congress Asset Management Co. MA now owns 14,950 shares of the company’s stock valued at $1,531,000 after buying an additional 1,534 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in LCI Industries by 4.6% in the second quarter. Great West Life Assurance Co. Can now owns 35,853 shares of the company’s stock valued at $3,667,000 after buying an additional 1,569 shares in the last quarter.
LCI Industries (NASDAQ:LCII) opened at 96.85 on Wednesday. The stock’s 50 day moving average price is $102.64 and its 200-day moving average price is $101.36. LCI Industries has a 52 week low of $80.65 and a 52 week high of $117.15. The company has a market cap of $2.41 billion and a price-to-earnings ratio of 17.72.
LCI Industries (NASDAQ:LCII) last issued its earnings results on Friday, August 4th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.03. LCI Industries had a net margin of 7.33% and a return on equity of 26.74%. The business had revenue of $547 million for the quarter, compared to analysts’ expectations of $507.56 million. The business’s revenue was up 24.0% compared to the same quarter last year. On average, equities research analysts forecast that LCI Industries will post $5.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%.
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Several analysts have issued reports on the company. Zacks Investment Research upgraded LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Wednesday, July 5th. Citigroup Inc. dropped their price objective on LCI Industries from $125.00 to $107.00 and set a “buy” rating on the stock in a research note on Tuesday, April 11th. Finally, Robert W. Baird assumed coverage on LCI Industries in a research note on Wednesday, May 3rd. They issued an “outperform” rating and a $118.00 price objective on the stock.
In other LCI Industries news, Director James Gero bought 12,000 shares of the stock in a transaction on Friday, May 12th. The shares were acquired at an average price of $92.03 per share, with a total value of $1,104,360.00. Following the acquisition, the director now directly owns 224,664 shares of the company’s stock, valued at approximately $20,675,827.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nick C. Fletcher sold 1,617 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $105.44, for a total transaction of $170,496.48. The disclosure for this sale can be found here.
LCI Industries Company Profile
LCI Industries, formerly Drew Industries Incorporated, through its subsidiary, Lippert Components, Inc and its subsidiaries (LCI), supplies an array of components for the original equipment manufacturers (OEMs) of recreational vehicles (RVs) and adjacent industries. The Company’s segments include OEM Segment and Aftermarket Segment.
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