GAMMA Investing LLC Has $2.53 Million Stake in LCI Industries (NYSE:LCII)

GAMMA Investing LLC grew its holdings in LCI Industries (NYSE:LCII - Free Report) by 5,676.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,939 shares of the company's stock after purchasing an additional 28,438 shares during the quarter. GAMMA Investing LLC owned approximately 0.11% of LCI Industries worth $2,530,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of LCI Industries by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 436,423 shares of the company's stock valued at $45,122,000 after purchasing an additional 25,145 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of LCI Industries by 1.8% in the 4th quarter. Principal Financial Group Inc. now owns 643,507 shares of the company's stock valued at $66,536,000 after purchasing an additional 11,286 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of LCI Industries in the 4th quarter valued at about $266,000. Smartleaf Asset Management LLC boosted its stake in shares of LCI Industries by 205.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 367 shares of the company's stock valued at $37,000 after purchasing an additional 247 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in shares of LCI Industries by 10.1% in the 4th quarter. Congress Asset Management Co. now owns 57,565 shares of the company's stock valued at $5,952,000 after purchasing an additional 5,303 shares during the last quarter. Institutional investors own 99.71% of the company's stock.

LCI Industries Stock Up 2.7%

LCII traded up $2.34 during trading on Monday, reaching $90.38. The company had a trading volume of 266,484 shares, compared to its average volume of 312,686. The business's fifty day moving average price is $84.50 and its 200 day moving average price is $95.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.82 and a quick ratio of 1.03. The company has a market cap of $2.28 billion, a P/E ratio of 16.14 and a beta of 1.27. LCI Industries has a 12 month low of $72.31 and a 12 month high of $129.38.

LCI Industries (NYSE:LCII - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.64. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $972.04 million. LCI Industries had a net margin of 3.82% and a return on equity of 10.28%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 earnings per share. Equities analysts anticipate that LCI Industries will post 6.76 EPS for the current year.

LCI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend was Friday, May 30th. LCI Industries's dividend payout ratio is presently 75.41%.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Baird R W lowered shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Robert W. Baird reduced their price objective on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Truist Financial lifted their price objective 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. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, LCI Industries has a consensus rating of "Hold" and an average price target of $114.50.

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.