Kestra Investment Management LLC Invests $242,000 in LCI Industries $LCII

Key Points

• Kestra Investment Management LLC has invested approximately $242,000 in LCI Industries by purchasing 2,767 shares during the first quarter of 2023.
• LCI Industries recently reported $2.39 earnings per share, surpassing analyst expectations of $2.22, and announced a quarterly dividend of $1.15 per share.
• Despite the positive earnings report, several analysts have downgraded LCI Industries, with current ratings showing one "Buy," four "Hold," and one "Sell."

Kestra Investment Management LLC purchased a new stake in shares of LCI Industries (NYSE:LCII - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,767 shares of the company's stock, valued at approximately $242,000.

A number of other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in LCI Industries by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,326,349 shares of the company's stock valued at $115,961,000 after acquiring an additional 89,230 shares during the last quarter. Victory Capital Management Inc. boosted its position in LCI Industries by 9.3% during the first quarter. Victory Capital Management Inc. now owns 695,508 shares of the company's stock valued at $60,808,000 after acquiring an additional 59,233 shares during the last quarter. Millennium Management LLC raised its holdings in shares of LCI Industries by 482.2% during the first quarter. Millennium Management LLC now owns 635,540 shares of the company's stock valued at $55,565,000 after purchasing an additional 526,378 shares during the period. Royce & Associates LP boosted its position 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 purchasing an additional 34,967 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of LCI Industries by 2.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 449,158 shares of the company's stock worth $39,270,000 after purchasing an additional 12,735 shares in the last quarter. Institutional investors own 99.71% of the company's stock.

LCI Industries Stock Down 3.5%

NYSE LCII traded down $3.69 during trading hours on Friday, hitting $100.32. The company's stock had a trading volume of 143,980 shares, compared to its average volume of 226,278. LCI Industries has a 52 week low of $72.31 and a 52 week high of $129.38. The company has a market capitalization of $2.43 billion, a PE ratio of 16.75 and a beta of 1.34. The company has a current ratio of 2.80, a quick ratio of 1.34 and a debt-to-equity ratio of 0.68. The company's 50-day simple moving average is $100.85 and its two-hundred day simple moving average is $92.22.

LCI Industries (NYSE:LCII - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.22 by $0.17. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. LCI Industries had a net margin of 3.93% and a return on equity of 11.57%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $2.40 EPS. Research analysts anticipate that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a $1.15 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.60 annualized dividend and a yield of 4.6%. LCI Industries's dividend payout ratio (DPR) is 76.79%.

LCI Industries announced that its board has approved a stock buyback plan on Thursday, May 15th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to reacquire up to 13.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LCII shares. BMO Capital Markets increased their price objective on shares of LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a research report on Wednesday, August 6th. Wall Street Zen cut shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Truist Financial increased their price objective on shares of LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.