Dark Forest Capital Management LP Raises Stock Position in LCI Industries $LCII

Key Points

• Dark Forest Capital Management LP has significantly increased its stake in LCI Industries by 691.5%, acquiring an additional 51,643 shares in the first quarter, totaling 59,111 shares valued at approximately $5.17 million.
• LCI Industries recently reported earnings per share of $2.39 for the latest quarter, surpassing analyst expectations and experiencing a year-over-year revenue growth of 5.1%.
• The company announced a quarterly dividend of $1.15 per share, reflecting a 4.4% yield, along with a stock buyback program authorizing up to $300 million in share repurchases.

Dark Forest Capital Management LP raised its stake in LCI Industries (NYSE:LCII - Free Report) by 691.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,111 shares of the company's stock after acquiring an additional 51,643 shares during the period. Dark Forest Capital Management LP owned 0.23% of LCI Industries worth $5,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. SVB Wealth LLC acquired a new position in LCI Industries in the first quarter valued at $28,000. LRI Investments LLC boosted its stake in LCI Industries by 345.6% in the fourth quarter. LRI Investments LLC now owns 401 shares of the company's stock valued at $41,000 after acquiring an additional 311 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in LCI Industries by 535.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company's stock valued at $46,000 after acquiring an additional 439 shares in the last quarter. State of Wyoming acquired a new position in LCI Industries in the first quarter valued at $46,000. Finally, Smartleaf Asset Management LLC boosted its stake in LCI Industries by 45.5% in the first quarter. Smartleaf Asset Management LLC now owns 534 shares of the company's stock valued at $47,000 after acquiring an additional 167 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Wall Street Analysts Forecast Growth

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

LCI Industries Stock Performance

NYSE LCII traded up $0.26 on Friday, hitting $105.95. 230,693 shares of the company's stock were exchanged, compared to its average volume of 239,847. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 17.69 and a beta of 1.34. The firm's 50-day moving average price is $100.20 and its two-hundred day moving average price is $92.35. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.80 and a quick ratio of 1.34.

LCI Industries (NYSE:LCII - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.39 earnings per share (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 return on equity of 11.57% and a net margin of 3.93%.The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.40 EPS. On average, research analysts expect that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Dividend Announcement

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

LCI Industries declared that its Board of Directors has initiated a share repurchase program on Thursday, May 15th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase up to 13.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is undervalued.

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.