AlphaQuest LLC Increases Stake in LCI Industries $LCII

Key Points

• AlphaQuest LLC increased its stake in LCI Industries by 189.9% in Q1, now holding nearly 10,000 shares valued at $874,000.
• Several institutional investors, including Boston Partners and Nuveen LLC, have also acquired new stakes in LCI Industries, contributing to 99.71% institutional ownership of the stock.
• LCI Industries recently declared a quarterly dividend of $1.15 per share and has a planned $300 million share repurchase program, reflecting confidence in the stock's value.

AlphaQuest LLC grew its position in shares of LCI Industries (NYSE:LCII - Free Report) by 189.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,992 shares of the company's stock after buying an additional 6,545 shares during the quarter. AlphaQuest LLC's holdings in LCI Industries were worth $874,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LCII. Boston Partners acquired a new stake in shares of LCI Industries in the first quarter valued at about $20,721,000. Nuveen LLC acquired a new stake in shares of LCI Industries in the first quarter valued at about $8,355,000. Dimensional Fund Advisors LP lifted its stake in shares of LCI Industries by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,326,349 shares of the company's stock valued at $115,961,000 after purchasing an additional 89,230 shares during the period. Victory Capital Management Inc. lifted its stake in shares of LCI Industries by 9.3% in the first quarter. Victory Capital Management Inc. now owns 695,508 shares of the company's stock valued at $60,808,000 after purchasing an additional 59,233 shares during the period. Finally, Stadium Capital Management LLC lifted its stake in shares of LCI Industries by 250.2% in the fourth quarter. Stadium Capital Management LLC now owns 70,069 shares of the company's stock valued at $7,244,000 after purchasing an additional 50,058 shares during the period. Institutional investors and hedge funds own 99.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial raised 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. Robert W. Baird reduced their price objective 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. Wall Street Zen cut shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, BMO Capital Markets lifted their target price on shares of LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, LCI Industries currently has an average rating of "Hold" and a consensus price target of $103.25.

LCI Industries Stock Performance

Shares of LCII opened at $107.4470 on Monday. 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 stock has a market cap of $2.60 billion, a P/E ratio of 17.94 and a beta of 1.25. The company has a 50-day moving average of $97.02 and a two-hundred day moving average of $92.26. 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 issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.22 by $0.17. The business 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 company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.40 earnings per share. As a group, research analysts predict that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Announces Dividend

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

LCI Industries announced that its Board of Directors has approved a share repurchase program on Thursday, May 15th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 13.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

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.

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