16,506 Shares in LCI Industries $LCII Purchased by Aristeia Capital L.L.C.

Key Points

• Aristeia Capital L.L.C. has acquired a new stake in LCI Industries, purchasing 16,506 shares valued at approximately $1.44 million, resulting in 0.07% ownership of the company.
• Several analysts have shifted their ratings on LCI Industries, with Wall Street Zen downgrading the stock to "hold" while BMO Capital Markets and Truist Financial have adjusted their price targets upwards.
• LCI Industries recently announced a quarterly dividend of $1.15 and has also initiated a stock buyback plan allowing for the repurchase of up to $300 million of its shares, indicating confidence in the company's valuation.

Aristeia Capital L.L.C. purchased a new position in shares of LCI Industries (NYSE:LCII - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 16,506 shares of the company's stock, valued at approximately $1,443,000. Aristeia Capital L.L.C. owned 0.07% of LCI Industries as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SVB Wealth LLC bought a new position in shares of LCI Industries during the 1st quarter worth $28,000. LRI Investments LLC grew its stake 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 acquiring an additional 311 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of LCI Industries by 535.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company's stock worth $46,000 after acquiring an additional 439 shares during the period. State of Wyoming bought a new position in LCI Industries in the 1st quarter worth about $46,000. Finally, Smartleaf Asset Management LLC boosted its stake in LCI Industries by 45.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 534 shares of the company's stock worth $47,000 after purchasing an additional 167 shares during the period. Institutional investors own 99.71% of the company's stock.

LCI Industries Trading Down 3.5%

Shares of LCII traded down $3.69 during mid-day trading on Friday, hitting $100.32. 143,980 shares of the company's stock traded hands, compared to its average volume of 226,278. The firm has a market capitalization of $2.43 billion, a P/E ratio of 16.75 and a beta of 1.34. The business's 50-day moving average price is $100.85 and its 200-day moving average price is $92.22. LCI Industries has a 1 year low of $72.31 and a 1 year high of $129.38. The company has a quick ratio of 1.34, a current ratio of 2.80 and a debt-to-equity ratio of 0.68.

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, topping the consensus estimate of $2.22 by $0.17. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%.The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.40 earnings per share. As a group, sell-side analysts forecast that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were issued a $1.15 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $4.60 dividend on an annualized basis and a yield of 4.6%. LCI Industries's dividend payout ratio is currently 76.79%.

Wall Street Analyst Weigh In

LCII has been the subject of several analyst reports. Truist Financial raised their target price on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Wall Street Zen downgraded LCI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, BMO Capital Markets raised their target price on LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $103.25.

LCI Industries 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.