De Lisle Partners LLP Increases Holdings in LCI Industries (NYSE:LCII)

Key Points

• De Lisle Partners LLP increased its holdings in LCI Industries by 18.3% in Q1, owning 29,152 shares valued at $2.5 million.
• LCI Industries reported $2.19 EPS for its latest quarter, surpassing estimates and indicating a year-over-year revenue growth of 8%.
• Following the announcement of a $300 million stock repurchase plan, LCI's dividend yield stands at 4.66%, reflecting management's belief that the stock is undervalued.

De Lisle Partners LLP boosted its holdings in shares of LCI Industries (NYSE:LCII - Free Report) by 18.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,152 shares of the company's stock after purchasing an additional 4,500 shares during the period. De Lisle Partners LLP owned about 0.12% of LCI Industries worth $2,547,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in LCI Industries by 9.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,415 shares of the company's stock valued at $648,000 after purchasing an additional 620 shares during the period. Royce & Associates LP grew its holdings in shares of LCI Industries by 6.4% during the 1st quarter. Royce & Associates LP now owns 581,590 shares of the company's stock worth $50,848,000 after acquiring an additional 34,967 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of LCI Industries during the 1st quarter worth approximately $695,000. Allianz Asset Management GmbH grew its holdings in shares of LCI Industries by 16.0% during the 1st quarter. Allianz Asset Management GmbH now owns 20,347 shares of the company's stock worth $1,779,000 after acquiring an additional 2,800 shares during the period. Finally, South Dakota Investment Council grew its holdings in shares of LCI Industries by 1.5% during the 1st quarter. South Dakota Investment Council now owns 27,295 shares of the company's stock worth $2,386,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 99.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Robert W. Baird reduced their target price on LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Baird R W downgraded LCI Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Truist Financial upped their target price on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded LCI Industries from a "hold" rating to a "buy" rating in a report on Monday, July 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, LCI Industries presently has a consensus rating of "Hold" and an average target price of $114.50.

LCI Industries Stock Performance

LCII stock opened at $98.74 on Tuesday. The stock has a market capitalization of $2.49 billion, a PE ratio of 16.19 and a beta of 1.26. LCI Industries has a 12-month low of $72.31 and a 12-month high of $129.38. The company has a current ratio of 2.96, a quick ratio of 1.41 and a debt-to-equity ratio of 0.68. The stock's 50 day simple moving average is $92.99 and its 200 day simple moving average is $92.97.

LCI Industries (NYSE:LCII - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.64. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $972.04 million. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.44 EPS. As a group, research analysts forecast that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $1.15 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $4.60 annualized dividend and a yield of 4.66%. LCI Industries's dividend payout ratio (DPR) is presently 75.41%.

LCI Industries declared that its board has initiated a stock repurchase plan on Thursday, May 15th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are generally a sign 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.

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