Invesco Ltd. Acquires 11,637 Shares of LCI Industries $LCII

Key Points

• Invesco Ltd. increased its holdings in LCI Industries by 10.7% during the first quarter, owning approximately $10.51 million worth of shares.
• LCI Industries recently announced a quarterly dividend of $1.15 per share, with a yield of 4.3%.
• Equities analysts have given LCI Industries a consensus rating of "Hold" with a target price of $103.25 amidst various price target adjustments.

Invesco Ltd. grew its stake in LCI Industries (NYSE:LCII - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,253 shares of the company's stock after buying an additional 11,637 shares during the period. Invesco Ltd. owned 0.48% of LCI Industries worth $10,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Covestor Ltd grew its stake in LCI Industries by 15.7% during the first quarter. Covestor Ltd now owns 885 shares of the company's stock worth $77,000 after purchasing an additional 120 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in LCI Industries during the first quarter worth approximately $1,538,000. Zions Bancorporation National Association UT acquired a new stake in LCI Industries during the first quarter worth approximately $1,324,000. Wolverine Asset Management LLC acquired a new stake in LCI Industries during the first quarter worth approximately $825,000. Finally, Citigroup Inc. grew its stake in LCI Industries by 34.2% during the first quarter. Citigroup Inc. now owns 104,289 shares of the company's stock worth $9,118,000 after purchasing an additional 26,585 shares during the period. Institutional investors and hedge funds own 99.71% of the company's stock.

Analyst Upgrades and Downgrades

LCII has been the subject of several recent analyst reports. Truist Financial raised their target price on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Robert W. Baird decreased their target price on LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. BMO Capital Markets raised their target price on LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen cut LCI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $103.25.

LCI Industries Stock Down 1.5%

Shares of LCII stock traded down $1.60 during trading hours on Thursday, reaching $106.38. The company had a trading volume of 165,149 shares, compared to its average volume of 385,889. LCI Industries has a 12 month low of $72.31 and a 12 month 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. The business has a fifty day simple moving average of $98.12 and a 200-day simple moving average of $92.52. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 17.76 and a beta of 1.25.

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 analyst estimates of $1.07 billion. During the same quarter last year, the company earned $2.40 earnings per share. The company's revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts expect that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

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

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