Quantbot Technologies LP Takes Position in LCI Industries $LCII

Key Points

• Quantbot Technologies LP purchased 4,955 shares of LCI Industries, valued at approximately $433,000, marking a new position for the fund.
• LCI Industries reported earnings of $2.39 per share, surpassing the consensus estimate of $2.22, with quarterly revenue reaching $1.11 billion.
• The company announced a quarterly dividend of $1.15 per share, with a dividend yield of 4.3%, to be paid on September 12th.

Quantbot Technologies LP purchased a new stake in LCI Industries (NYSE:LCII - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,955 shares of the company's stock, valued at approximately $433,000.

Several other large investors have also recently added to or reduced their stakes in LCII. LRI Investments LLC raised its holdings in LCI Industries by 345.6% in the 4th quarter. LRI Investments LLC now owns 401 shares of the company's stock valued at $41,000 after acquiring an additional 311 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in LCI Industries by 535.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company's stock valued at $46,000 after acquiring an additional 439 shares in the last quarter. SouthState Corp raised its holdings in LCI Industries by 4,483.3% in the 1st quarter. SouthState Corp now owns 550 shares of the company's stock valued at $48,000 after acquiring an additional 538 shares in the last quarter. Covestor Ltd raised its holdings in LCI Industries by 15.7% in the 1st quarter. Covestor Ltd now owns 885 shares of the company's stock valued at $77,000 after acquiring an additional 120 shares in the last quarter. Finally, Vestcor Inc bought a new position in LCI Industries during the first quarter worth about $158,000. Institutional investors and hedge funds own 99.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on LCII. Truist Financial raised their price target on shares of LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Robert W. Baird cut their price target on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. BMO Capital Markets raised their price target on shares of LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen cut shares of LCI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $103.25.

LCI Industries Price Performance

LCI Industries stock traded down $1.18 during trading hours on Monday, hitting $105.32. 156,887 shares of the stock were exchanged, compared to its average volume of 292,889. LCI Industries has a 12 month low of $72.31 and a 12 month high of $129.38. The stock has a market capitalization of $2.55 billion, a P/E ratio of 17.58 and a beta of 1.34. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.34 and a current ratio of 2.80. The business's 50-day moving average is $99.10 and its two-hundred day moving average is $92.26.

LCI Industries (NYSE:LCII - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $2.39 earnings per share 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 company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $2.40 earnings per share. The company's revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries declared that its Board of Directors has authorized a share buyback program on Thursday, May 15th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

LCI Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.4%. LCI Industries's payout ratio is currently 76.79%.

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.