Allianz Asset Management GmbH Has $1.78 Million Stock Position in LCI Industries (NYSE:LCII)

Key Points

• Allianz Asset Management GmbH has increased its holdings in LCI Industries by 16.0%, owning approximately 0.08% of the company, with a value of about $1.78 million.
• LCI Industries reported earnings of $2.19 per share for the quarter, exceeding estimates by $0.64, along with an 8.0% year-over-year revenue increase.
• The company announced a $300 million share buyback program, indicating the board's belief that the shares are currently undervalued.

Allianz Asset Management GmbH boosted its position in LCI Industries (NYSE:LCII - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,347 shares of the company's stock after acquiring an additional 2,800 shares during the period. Allianz Asset Management GmbH owned 0.08% of LCI Industries worth $1,779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LCII. LRI Investments LLC grew its position in shares of LCI Industries by 345.6% during the 4th quarter. LRI Investments LLC now owns 401 shares of the company's stock worth $41,000 after buying an additional 311 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in LCI Industries by 535.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company's stock worth $46,000 after purchasing an additional 439 shares during the period. Headlands Technologies LLC acquired a new stake in LCI Industries in the fourth quarter worth $59,000. Covestor Ltd boosted its position in shares of LCI Industries by 159.3% during the fourth quarter. Covestor Ltd now owns 765 shares of the company's stock worth $79,000 after purchasing an additional 470 shares in the last quarter. Finally, Lido Advisors LLC acquired a new position in shares of LCI Industries in the 4th quarter valued at $201,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

LCI Industries Stock Down 0.9%

NYSE LCII traded down $0.89 on Friday, reaching $94.11. The company had a trading volume of 437,540 shares, compared to its average volume of 292,378. The company's fifty day moving average is $93.54 and its 200-day moving average is $92.86. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 15.43 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 2.96. LCI Industries has a 1-year low of $72.31 and a 1-year high of $129.38.

LCI Industries (NYSE:LCII - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.64. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $972.04 million. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 earnings per share. On average, research analysts forecast that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 15th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

LCI Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $1.15 per share. The ex-dividend date was Friday, May 30th. This represents a $4.60 annualized dividend and a yield of 4.9%. LCI Industries's dividend payout ratio is presently 75.41%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LCII. Robert W. Baird dropped their price objective on 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 increased their price target on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Finally, Wall Street Zen cut LCI Industries from a "buy" rating to a "hold" rating in a report on Saturday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, LCI Industries currently has a consensus rating of "Hold" and a consensus target price of $114.50.

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.