Texas Permanent School Fund Boosts Stake in LCI Industries (NASDAQ:LCII)
Texas Permanent School Fund raised its position in LCI Industries (NASDAQ:LCII) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 18,183 shares of the company’s stock after buying an additional 259 shares during the period. Texas Permanent School Fund’s holdings in LCI Industries were worth $1,862,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. Bowling Portfolio Management LLC boosted its position in shares of LCI Industries by 39.5% in the second quarter. Bowling Portfolio Management LLC now owns 6,892 shares of the company’s stock worth $706,000 after buying an additional 1,953 shares during the last quarter. Congress Asset Management Co. MA boosted its position in shares of LCI Industries by 11.4% in the second quarter. Congress Asset Management Co. MA now owns 14,950 shares of the company’s stock worth $1,531,000 after buying an additional 1,534 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of 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 worth $3,667,000 after buying an additional 1,569 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of LCI Industries by 8.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 200,000 shares of the company’s stock worth $20,480,000 after buying an additional 15,000 shares during the last quarter.
LCI Industries (NASDAQ:LCII) opened at 96.55 on Friday. The stock has a 50 day moving average of $102.16 and a 200-day moving average of $100.93. The firm has a market cap of $2.41 billion and a price-to-earnings ratio of 17.43. LCI Industries has a 52-week low of $80.65 and a 52-week high of $117.15.
LCI Industries (NASDAQ:LCII) last posted its quarterly earnings data on Friday, August 4th. The company reported $1.59 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 company had revenue of $547 million during the quarter, compared to analyst estimates of $507.56 million. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, analysts expect that LCI Industries will post $5.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, August 16th.
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A number of equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Wednesday, July 5th. Robert W. Baird assumed coverage on shares of LCI Industries in a research report on Wednesday, May 3rd. They set an “outperform” rating and a $118.00 target price for the company.
In other LCI Industries news, insider Nick C. Fletcher sold 1,617 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $105.44, for a total transaction of $170,496.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Scott T. Mereness acquired 3,000 shares of LCI Industries stock in a transaction on Thursday, August 10th. The shares were purchased at an average cost of $94.50 per share, with a total value of $283,500.00. Following the completion of the purchase, the president now directly owns 204,824 shares of the company’s stock, valued at approximately $19,355,868. The disclosure for this purchase 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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