Connor Clark & Lunn Investment Management Ltd. Takes $785,000 Position in LCI Industries (NYSE:LCII)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of LCI Industries (NYSE:LCII) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,512 shares of the company’s stock, valued at approximately $785,000.

A number of other institutional investors and hedge funds have also modified their holdings of LCII. American Century Companies Inc. increased its position in shares of LCI Industries by 30.5% during the second quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock valued at $43,274,000 after purchasing an additional 97,877 shares during the period. Royce & Associates LP grew its position in LCI Industries by 22.5% in the third quarter. Royce & Associates LP now owns 374,037 shares of the company’s stock valued at $45,086,000 after acquiring an additional 68,682 shares during the period. Dimensional Fund Advisors LP grew its position in LCI Industries by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock valued at $114,945,000 after acquiring an additional 62,354 shares during the period. Principal Financial Group Inc. grew its position in LCI Industries by 6.1% in the third quarter. Principal Financial Group Inc. now owns 632,221 shares of the company’s stock valued at $76,202,000 after acquiring an additional 36,487 shares during the period. Finally, Conestoga Capital Advisors LLC grew its position in LCI Industries by 26.5% in the third quarter. Conestoga Capital Advisors LLC now owns 163,006 shares of the company’s stock valued at $19,649,000 after acquiring an additional 34,110 shares during the period. 99.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Jason Lippert sold 10,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $126.00, for a total transaction of $1,260,000.00. Following the transaction, the chief executive officer now owns 373,145 shares of the company’s stock, valued at $47,016,270. This represents a 2.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.50% of the stock is currently owned by insiders.

LCI Industries Price Performance

Shares of LCII stock opened at $122.50 on Friday. The stock’s fifty day moving average is $117.61 and its 200-day moving average is $112.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 2.88. The stock has a market capitalization of $3.12 billion, a PE ratio of 23.83 and a beta of 1.41. LCI Industries has a 52 week low of $96.18 and a 52 week high of $131.36.

LCI Industries (NYSE:LCII) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. LCI Industries had a return on equity of 9.48% and a net margin of 3.47%. The business had revenue of $915.50 million for the quarter, compared to analyst estimates of $922.85 million. During the same quarter in the prior year, the firm posted $1.02 earnings per share. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. Equities research analysts expect that LCI Industries will post 5.51 EPS for the current fiscal year.

LCI Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from LCI Industries’s previous quarterly dividend of $1.05. LCI Industries’s dividend payout ratio is 89.49%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LCII. Raymond James began coverage on LCI Industries in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Benchmark reiterated a “buy” rating and issued a $130.00 price target on shares of LCI Industries in a research report on Wednesday, August 7th. StockNews.com cut LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Truist Financial upped their price target on LCI Industries from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, LCI Industries has a consensus rating of “Hold” and a consensus price target of $112.20.

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.