Connor Clark & Lunn Investment Management Ltd. Invests $1.54 Million in LCI Industries $LCII

Key Points

• Connor Clark & Lunn Investment Management Ltd. has purchased 17,595 shares of LCI Industries valued at approximately $1.54 million, representing about 0.07% ownership of the company.
• Several hedge funds increased their stakes in LCI Industries, with notable increases from Dimensional Fund Advisors LP by 7.6% and Victory Capital Management Inc. by 9.3%.
• Analysts have issued mixed ratings for LCI Industries, with one downgrade from a "buy" to a "hold" and a consensus target price currently set at $103.25.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in LCI Industries (NYSE:LCII - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 17,595 shares of the company's stock, valued at approximately $1,538,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of LCI Industries as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LCII. Dimensional Fund Advisors LP boosted its holdings in shares of LCI Industries by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company's stock valued at $127,904,000 after purchasing an additional 87,764 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of LCI Industries by 9.3% during the 1st quarter. Victory Capital Management Inc. now owns 695,508 shares of the company's stock valued at $60,808,000 after acquiring an additional 59,233 shares in the last quarter. Stadium Capital Management LLC lifted its holdings in shares of LCI Industries by 250.2% during the 4th quarter. Stadium Capital Management LLC now owns 70,069 shares of the company's stock valued at $7,244,000 after acquiring an additional 50,058 shares in the last quarter. Twinbeech Capital LP acquired a new position in shares of LCI Industries during the 4th quarter valued at $5,065,000. Finally, Northern Trust Corp lifted its holdings in shares of LCI Industries by 12.9% during the 4th quarter. Northern Trust Corp now owns 319,742 shares of the company's stock valued at $33,058,000 after acquiring an additional 36,505 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of LCI Industries from $80.00 to $85.00 and gave the company an "underperform" rating in a report on Wednesday, August 6th. Robert W. Baird reduced their target price on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Truist Financial lifted their target price on shares of LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a report on Tuesday, June 3rd. Finally, Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $103.25.

LCI Industries Stock Down 0.4%

LCII stock traded down $0.4320 during trading on Thursday, reaching $101.4180. The stock had a trading volume of 177,520 shares, compared to its average volume of 337,677. LCI Industries has a 1-year low of $72.31 and a 1-year high of $129.38. The company has a current ratio of 2.80, a quick ratio of 1.34 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $2.46 billion, a P/E ratio of 16.93 and a beta of 1.25. The firm has a fifty day moving average price of $96.63 and a 200 day moving average price of $92.36.

LCI Industries (NYSE:LCII - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.22 by $0.17. LCI Industries had a net margin of 3.93% and a return on equity of 11.57%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business posted $2.40 EPS. The firm's revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a $1.15 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.60 annualized dividend and a dividend yield of 4.5%. LCI Industries's payout ratio is presently 76.79%.

LCI Industries announced that its board has authorized a stock buyback program on Thursday, May 15th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 13.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

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.