Nuveen LLC Makes New Investment in LCI Industries $LCII

Key Points

• Nuveen LLC acquired a new position in LCI Industries by purchasing 95,566 shares valued at approximately $8.36 million, representing 0.38% ownership of the company.
• LCI Industries reported a quarterly EPS of $2.39, exceeding estimates, and announced a $300 million share buyback plan indicating confidence in stock valuation.
• The company declared a quarterly dividend of $1.15 per share, with a yield of 4.3%, scheduled for payment to shareholders on September 12th.

Nuveen LLC bought a new position in shares of LCI Industries (NYSE:LCII - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 95,566 shares of the company's stock, valued at approximately $8,355,000. Nuveen LLC owned approximately 0.38% of LCI Industries as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LCII. Dimensional Fund Advisors LP boosted its stake in LCI Industries by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company's stock worth $127,904,000 after acquiring an additional 87,764 shares in the last quarter. Victory Capital Management Inc. boosted its stake in LCI Industries by 9.3% during the first quarter. Victory Capital Management Inc. now owns 695,508 shares of the company's stock worth $60,808,000 after acquiring an additional 59,233 shares in the last quarter. Stadium Capital Management LLC boosted its stake in LCI Industries by 250.2% during the fourth quarter. Stadium Capital Management LLC now owns 70,069 shares of the company's stock worth $7,244,000 after acquiring an additional 50,058 shares in the last quarter. Twinbeech Capital LP bought a new position in LCI Industries during the fourth quarter worth $5,065,000. Finally, Northern Trust Corp boosted its stake in LCI Industries by 12.9% during the fourth quarter. Northern Trust Corp now owns 319,742 shares of the company's stock worth $33,058,000 after acquiring an additional 36,505 shares in the last quarter. 99.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

LCI Industries Stock Down 1.7%

Shares of LCII stock traded down $1.84 on Thursday, hitting $106.14. The stock had a trading volume of 75,153 shares, compared to its average volume of 385,312. The business has a 50 day moving average of $98.12 and a 200 day moving average of $92.52. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 17.72 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.80 and a quick ratio of 1.34. LCI Industries has a 12-month low of $72.31 and a 12-month high of $129.38.

LCI Industries (NYSE:LCII - Get Free Report) last announced 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 the consensus estimate of $1.07 billion. LCI Industries had a net margin of 3.93% and a return on equity of 11.57%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.40 earnings per share. As a group, analysts expect that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, August 29th. This represents a $4.60 annualized dividend and a yield of 4.3%. LCI Industries's dividend payout ratio is presently 76.79%.

LCI Industries declared that its board has authorized a stock 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 typically an indication 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.