Boston Partners Buys Shares of 240,339 LCI Industries $LCII

Key Points

• Boston Partners recently acquired a new stake in LCI Industries, purchasing 240,339 shares valued at approximately $20.72 million, which represents about 0.95% of the company.
• LCI Industries announced a share buyback plan authorizing up to $300 million to repurchase up to 13.4% of its stock, indicating management's belief that shares are currently undervalued.
• The company's recent quarterly earnings surpassed analysts' expectations, with earnings per share of $2.39 compared to the consensus estimate of $2.22, reflecting a revenue increase of 5.1% year-over-year.

Boston Partners bought a new stake in LCI Industries (NYSE:LCII - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 240,339 shares of the company's stock, valued at approximately $20,721,000. Boston Partners owned 0.95% of LCI Industries as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LCII. Renaissance Technologies LLC acquired a new stake in LCI Industries in the fourth quarter valued at approximately $3,526,000. Summit Investment Advisors Inc. boosted its position in LCI Industries by 5.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,595 shares of the company's stock valued at $268,000 after buying an additional 130 shares in the last quarter. Marshall Wace LLP boosted its position in LCI Industries by 35.8% in the fourth quarter. Marshall Wace LLP now owns 3,785 shares of the company's stock valued at $391,000 after buying an additional 997 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in LCI Industries by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company's stock valued at $127,904,000 after buying an additional 87,764 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in LCI Industries by 5.4% in the fourth quarter. MetLife Investment Management LLC now owns 14,909 shares of the company's stock valued at $1,541,000 after buying an additional 769 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

LCI Industries Stock Down 0.9%

LCII traded down $0.9140 during midday trading on Thursday, hitting $100.9360. The company had a trading volume of 20,586 shares, compared to its average volume of 389,506. LCI Industries has a 52 week low of $72.31 and a 52 week 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. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 16.86 and a beta of 1.25. The stock's 50 day moving average price is $96.41 and its 200 day moving average price is $92.36.

LCI Industries (NYSE:LCII - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.17. LCI Industries had a net margin of 3.93% and a return on equity of 11.57%. The firm 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 business's revenue was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

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. This represents a $4.60 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, August 29th. LCI Industries's payout ratio is presently 76.79%.

LCI Industries declared that its board has authorized a share buyback plan on Thursday, May 15th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Robert W. Baird cut their price target on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. BMO Capital Markets lifted their price target 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. Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Truist Financial lifted their price target 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. One 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $103.25.

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.