80,872 Shares in LCI Industries $LCII Purchased 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) during the 1st quarter, according to the company in its most recent disclosure 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 about 0.32% of LCI Industries as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Covestor Ltd raised its holdings in LCI Industries by 15.7% during the 1st quarter. Covestor Ltd now owns 885 shares of the company's stock worth $77,000 after buying an additional 120 shares during the period. Smartleaf Asset Management LLC boosted its position in LCI Industries by 45.5% during the first 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. Apollon Wealth Management LLC lifted its holdings in shares of LCI Industries by 6.1% during the first quarter. Apollon Wealth Management LLC now owns 3,640 shares of the company's stock worth $318,000 after buying an additional 208 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of LCI Industries by 345.6% during the fourth quarter. LRI Investments LLC now owns 401 shares of the company's stock worth $41,000 after buying an additional 311 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in LCI Industries in the first quarter valued at about $28,000. Institutional investors and hedge funds own 99.71% of the company's stock.

LCI Industries Stock Performance

LCII stock traded down $0.09 during trading on Monday, reaching $105.94. The stock had a trading volume of 47,668 shares, compared to its average volume of 377,542. LCI Industries has a 52 week low of $72.31 and a 52 week high of $129.38. The stock's 50 day moving average is $100.20 and its two-hundred day moving average is $92.13. 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 firm has a market cap of $2.57 billion, a PE ratio of 17.68 and a beta of 1.34.

LCI Industries (NYSE:LCII - Get Free Report) last posted its 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. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%.The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company earned $2.40 earnings per share. LCI Industries's revenue was up 5.1% on a year-over-year basis. As a group, equities analysts anticipate that LCI Industries will post 6.76 earnings per share for the current year.

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

LCI Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given a $1.15 dividend. 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 is presently 76.79%.

Analysts Set New Price Targets

Several analysts have recently weighed in on LCII shares. Wall Street Zen cut LCI Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. BMO Capital Markets boosted their price target on LCI Industries from $80.00 to $85.00 and gave the company an "underperform" rating in a research note on Wednesday, August 6th. Finally, Truist Financial upped their target price on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.