Dimensional Fund Advisors LP Has $115.96 Million Stock Holdings in LCI Industries $LCII

Key Points

• Dimensional Fund Advisors LP raised its stake in LCI Industries by 7.2% to a total of approximately 1.33 million shares, valued at around $116 million.
• LCI Industries reported earnings of $2.39 per share for the latest quarter, surpassing analyst expectations of $2.22 and showing a 5.1% year-over-year revenue growth.
• The company announced a $300 million share buyback program, reflecting the board's belief that the stock is undervalued.

Dimensional Fund Advisors LP boosted its stake in shares of LCI Industries (NYSE:LCII - Free Report) by 7.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,326,349 shares of the company's stock after acquiring an additional 89,230 shares during the quarter. Dimensional Fund Advisors LP owned about 5.26% of LCI Industries worth $115,961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vestmark Advisory Solutions Inc. lifted its position in LCI Industries by 113.6% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 46,690 shares of the company's stock worth $4,082,000 after acquiring an additional 24,834 shares during the period. Boston Partners acquired a new stake in shares of LCI Industries during the first quarter worth $20,721,000. Russell Investments Group Ltd. boosted its holdings in shares of LCI Industries by 93,707.4% during the first quarter. Russell Investments Group Ltd. now owns 25,328 shares of the company's stock worth $2,214,000 after purchasing an additional 25,301 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of LCI Industries by 46.0% during the first quarter. Public Sector Pension Investment Board now owns 92,590 shares of the company's stock worth $8,095,000 after purchasing an additional 29,188 shares during the last quarter. Finally, SouthState Corp boosted its holdings in shares of LCI Industries by 4,483.3% during the first quarter. SouthState Corp now owns 550 shares of the company's stock worth $48,000 after purchasing an additional 538 shares during the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

LCI Industries Stock Performance

LCII stock traded down $2.44 during midday trading on Thursday, reaching $105.54. The company had a trading volume of 23,989 shares, compared to its average volume of 385,001. 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 stock has a 50 day moving average price of $98.12 and a 200 day moving average price of $92.52. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38. The firm has a market capitalization of $2.56 billion, a PE ratio of 17.63 and a beta of 1.25.

LCI Industries (NYSE:LCII - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.39 EPS for the quarter, beating analysts' consensus estimates of $2.22 by $0.17. The company 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%.LCI Industries's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.40 earnings per share. Analysts anticipate that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries declared that its Board of Directors has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

LCI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, August 29th. This represents a $4.60 annualized dividend and a dividend yield of 4.4%. LCI Industries's payout ratio is currently 76.79%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LCII. 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 objective on LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 6th. Truist Financial boosted their price objective on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Finally, Robert W. Baird dropped their target price on LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average 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.