Arizona State Retirement System Has $1.33 Million Stake in LCI Industries (LCII)
Arizona State Retirement System boosted its stake in LCI Industries (NASDAQ:LCII) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,998 shares of the company’s stock after buying an additional 100 shares during the period. Arizona State Retirement System owned 0.05% of LCI Industries worth $1,331,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc increased its position in LCI Industries by 215.2% in the second quarter. K.J. Harrison & Partners Inc now owns 15,760 shares of the company’s stock valued at $1,614,000 after buying an additional 10,760 shares during the period. Congress Asset Management Co. MA increased its position 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 during the period. Bowling Portfolio Management LLC increased its position 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 during the period. Boston Partners increased its position in LCI Industries by 2.1% in the second quarter. Boston Partners now owns 729,159 shares of the company’s stock valued at $74,666,000 after buying an additional 15,308 shares during the period. Finally, Texas Permanent School Fund increased its position in LCI Industries by 1.4% in the second quarter. Texas Permanent School Fund now owns 18,183 shares of the company’s stock valued at $1,862,000 after buying an additional 259 shares during the period.
Shares of LCI Industries (NASDAQ:LCII) opened at 94.30 on Friday. LCI Industries has a 12-month low of $80.65 and a 12-month high of $117.15. The firm has a market capitalization of $2.35 billion and a PE ratio of 17.03. The company’s 50 day moving average is $100.10 and its 200 day moving average is $99.82.
LCI Industries (NASDAQ:LCII) last issued its earnings results on Friday, August 4th. The company reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.03. The business had revenue of $547 million during the quarter, compared to the consensus estimate of $507.56 million. LCI Industries had a return on equity of 26.74% and a net margin of 7.33%. LCI Industries’s revenue was up 24.0% on a year-over-year basis. On average, analysts forecast that LCI Industries will post $5.79 earnings per share for the current 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 $0.50 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.12%.
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LCII has been the subject of several research reports. Zacks Investment Research upgraded shares of LCI Industries from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Wednesday, July 5th. Robert W. Baird initiated coverage on shares of LCI Industries in a report on Wednesday, May 3rd. They set an “outperform” rating and a $118.00 price target for the company.
In other news, President Scott T. Mereness acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was purchased at an average price of $94.50 per share, for a total transaction of $283,500.00. Following the completion of the acquisition, the president now directly owns 204,824 shares in the company, valued at approximately $19,355,868. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David A. Reed sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $101.29, for a total value of $202,580.00. The disclosure for this sale can be found here.
About LCI Industries
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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