Jane Street Group LLC Acquires 203,594 Shares of LCI Industries $LCII

Key Points

• Jane Street Group LLC significantly increased its stake in LCI Industries by 651.1% during the first quarter, owning 234,864 shares worth approximately $20.53 million.
• LCI Industries reported a net revenue of $1.11 billion for the last quarter, which exceeded analysts' expectations, and the company had a quarterly earnings per share (EPS) of $2.39.
• The company announced a $300 million stock repurchase program aimed at buying back approximately 13.4% of its shares, signifying management's belief in the stock's undervaluation.

Jane Street Group LLC grew its stake in shares of LCI Industries (NYSE:LCII - Free Report) by 651.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LCII. SVB Wealth LLC bought a new position in shares of LCI Industries during the first quarter valued at $28,000. LRI Investments LLC boosted its position in shares of LCI Industries by 345.6% during the fourth quarter. LRI Investments LLC now owns 401 shares of the company's stock valued at $41,000 after buying an additional 311 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of LCI Industries by 535.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company's stock valued at $46,000 after buying an additional 439 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of LCI Industries by 45.5% during the first quarter. Smartleaf Asset Management LLC now owns 534 shares of the company's stock valued at $47,000 after buying an additional 167 shares during the last quarter. Finally, SouthState Corp boosted its position in shares of LCI Industries by 4,483.3% during the first quarter. SouthState Corp now owns 550 shares of the company's stock valued at $48,000 after buying an additional 538 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LCII. Wall Street Zen cut LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. 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 report on Tuesday, June 3rd. 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. Finally, 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 report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, LCI Industries presently has a consensus rating of "Hold" and an average price target of $103.25.

LCI Industries Stock Performance

Shares of NYSE LCII traded down $0.83 during trading on Wednesday, hitting $102.53. The company had a trading volume of 65,069 shares, compared to its average volume of 381,166. The stock has a 50 day simple moving average of $99.35 and a 200 day simple moving average of $92.34. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.34 and a current ratio of 2.80. LCI Industries has a 12 month low of $72.31 and a 12 month high of $129.38. The firm has a market capitalization of $2.49 billion, a P/E ratio of 17.11 and a beta of 1.34.

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, 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 firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $2.40 earnings per share. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 29th. LCI Industries's dividend payout ratio (DPR) is 76.79%.

LCI Industries announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 15th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 13.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are 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.