HBK Investments L P Acquires New Shares in LCI Industries $LCII

Key Points

• HBK Investments L P has acquired 23,580 shares of LCI Industries, about 0.09% of the company, valued at approximately $2,062,000 in the first quarter.
• LCI Industries reported a quarterly EPS of $2.39, exceeding estimates, with a year-over-year revenue increase of 5.1%, prompting a stock repurchase program of $300 million.
• The company recently announced a quarterly dividend of $1.15 per share, representing a 4.4% yield, with a payout ratio of 76.79%.

HBK Investments L P bought a new position in shares of LCI Industries (NYSE:LCII - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,580 shares of the company's stock, valued at approximately $2,062,000. HBK Investments L P owned 0.09% of LCI Industries at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LCII. Boston Partners purchased a new position in LCI Industries during the first quarter worth about $20,721,000. Jane Street Group LLC lifted its position in LCI Industries by 651.1% during the first quarter. Jane Street Group LLC now owns 234,864 shares of the company's stock valued at $20,534,000 after buying an additional 203,594 shares in the last quarter. Nuveen LLC acquired a new stake in shares of LCI Industries in the first quarter worth $8,355,000. Dimensional Fund Advisors LP lifted its holdings in shares of LCI Industries by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,326,349 shares of the company's stock valued at $115,961,000 after acquiring an additional 89,230 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in LCI Industries during the 1st quarter worth $7,071,000. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BMO Capital Markets boosted their price objective on LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 6th. Wall Street Zen cut LCI Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Truist Financial lifted their price objective on shares of LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $103.25.

LCI Industries Stock Up 0.2%

Shares of LCI Industries stock traded up $0.26 on Friday, hitting $105.95. 230,693 shares of the company's stock traded hands, compared to its average volume of 239,847. The stock has a market cap of $2.57 billion, a P/E ratio of 17.69 and a beta of 1.34. The company has a quick ratio of 1.34, a current ratio of 2.80 and a debt-to-equity ratio of 0.68. The firm's 50-day moving average is $100.20 and its 200 day moving average is $92.35. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38.

LCI Industries (NYSE:LCII - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.22 by $0.17. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.07 billion. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%.The business's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.40 EPS. Equities analysts anticipate that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries declared that its board has initiated a share buyback plan on Thursday, May 15th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 13.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

LCI Industries Announces Dividend

The company 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 is Friday, August 29th. This represents a $4.60 annualized dividend and a dividend yield of 4.3%. LCI Industries's dividend payout ratio (DPR) is presently 76.79%.

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.