Jane Street Group LLC Increases Stake in LCI Industries $LCII

Key Points

• Jane Street Group LLC increased its stake in LCI Industries by 651.1%, now holding approximately 0.93% of the company valued at around $20.5 million.
• LCI Industries recently reported $2.39 EPS for the quarter, surpassing the consensus estimate of $2.22, alongside a revenue of $1.11 billion, which was higher than analysts anticipated.
• The company declared a quarterly dividend of $1.15 per share, resulting in a 4.6% yield, with a payout ratio currently at 76.79%.

Jane Street Group LLC grew its position in shares of LCI Industries (NYSE:LCII - Free Report) by 651.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 234,864 shares of the company's stock after acquiring an additional 203,594 shares during the quarter. Jane Street Group LLC owned about 0.93% of LCI Industries worth $20,534,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC lifted its position in LCI Industries by 482.2% in the first quarter. Millennium Management LLC now owns 635,540 shares of the company's stock worth $55,565,000 after buying an additional 526,378 shares during the last quarter. Boston Partners bought a new stake in LCI Industries during the first quarter valued at about $20,721,000. Nuveen LLC bought a new stake in LCI Industries during the first quarter valued at about $8,355,000. Jacobs Levy Equity Management Inc. acquired a new stake in LCI Industries in the first quarter worth about $8,093,000. Finally, Dimensional Fund Advisors LP boosted its holdings in LCI Industries by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,326,349 shares of the company's stock worth $115,961,000 after acquiring an additional 89,230 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors.

LCI Industries Stock Down 3.5%

Shares of NYSE LCII opened at $100.32 on Friday. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38. 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 business has a 50-day moving average price of $100.85 and a 200 day moving average price of $92.13. The stock has a market cap of $2.43 billion, a PE ratio of 16.75 and a beta of 1.34.

LCI Industries (NYSE:LCII - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.22 by $0.17. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%.The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the prior year, the business earned $2.40 earnings per share. The company's quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts forecast that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $4.60 annualized dividend and a yield of 4.6%. LCI Industries's payout ratio is currently 76.79%.

Analyst Ratings Changes

Several research analysts recently weighed in on LCII shares. Truist Financial lifted their price target on LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a research report on Tuesday, June 3rd. 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. Finally, Wall Street Zen lowered LCI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $103.25.

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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