80,872 Shares in LCI Industries $LCII Bought by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC has invested $7.07 million in 80,872 shares of LCI Industries, marking a 0.32% stake in the company as of their latest SEC filing.
• LCI Industries reported a quarterly EPS of $2.39, surpassing analyst predictions, with a revenue increase of 5.1% year-over-year to $1.11 billion.
• The company announced a share buyback program allowing repurchase of up to $300 million, indicating management's belief that the stock is undervalued.

Cubist Systematic Strategies LLC bought a new position in LCI Industries (NYSE:LCII - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 80,872 shares of the company's stock, valued at approximately $7,071,000. Cubist Systematic Strategies LLC owned approximately 0.32% of LCI Industries at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Vident Advisory LLC grew its position in LCI Industries by 6.2% during the 1st quarter. Vident Advisory LLC now owns 7,552 shares of the company's stock worth $660,000 after acquiring an additional 442 shares during the last quarter. Magnetar Financial LLC bought a new stake in LCI Industries during the 1st quarter worth approximately $1,078,000. State of Wyoming bought a new stake in LCI Industries during the 1st quarter worth approximately $46,000. Trexquant Investment LP grew its position in LCI Industries by 76.0% during the 1st quarter. Trexquant Investment LP now owns 89,902 shares of the company's stock worth $7,860,000 after acquiring an additional 38,824 shares during the last quarter. Finally, Jane Street Group LLC grew its position in LCI Industries by 651.1% during the 1st quarter. Jane Street Group LLC now owns 234,864 shares of the company's stock worth $20,534,000 after acquiring an additional 203,594 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors.

LCI Industries Trading Up 0.2%

Shares of LCII stock traded up $0.26 during trading hours on Friday, reaching $105.95. The company had a trading volume of 230,693 shares, compared to its average volume of 239,847. The company has a 50 day moving average of $100.20 and a 200 day moving average of $92.23. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.80 and a quick ratio of 1.34. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 17.69 and a beta of 1.34. 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 posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.22 by $0.17. The company 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 firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.40 EPS. On average, equities research analysts anticipate that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors 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 yield of 4.3%. LCI Industries's dividend payout ratio (DPR) is presently 76.79%.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Truist Financial increased their price target on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. BMO Capital Markets increased their price objective on LCI Industries from $80.00 to $85.00 and gave the company an "underperform" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen lowered LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.