Vestmark Advisory Solutions Inc. Purchases 24,834 Shares of LCI Industries $LCII

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in LCI Industries by 113.6% during the first quarter, acquiring 24,834 additional shares to own a total of 46,690 shares valued at approximately $4.08 million.
• LCI Industries reported earnings per share of $2.39 for the latest quarter, surpassing analyst expectations and reflecting a year-over-year revenue growth of 5.1%.
• The company has authorized a $300 million stock repurchase program, allowing the buyback of up to 13.4% of its shares, indicating a belief by its board that the stock is undervalued.

Vestmark Advisory Solutions Inc. boosted its position in shares of LCI Industries (NYSE:LCII - Free Report) by 113.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,690 shares of the company's stock after acquiring an additional 24,834 shares during the period. Vestmark Advisory Solutions Inc. owned 0.18% of LCI Industries worth $4,082,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LCII. Boston Partners bought a new position in shares of LCI Industries during the 1st quarter worth about $20,721,000. Nuveen LLC acquired a new position in LCI Industries in the first quarter valued at about $8,355,000. Dimensional Fund Advisors LP lifted its position in shares of LCI Industries by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company's stock worth $127,904,000 after purchasing an additional 87,764 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of LCI Industries by 9.3% during the first quarter. Victory Capital Management Inc. now owns 695,508 shares of the company's stock worth $60,808,000 after purchasing an additional 59,233 shares in the last quarter. Finally, Stadium Capital Management LLC lifted its position in shares of LCI Industries by 250.2% during the fourth quarter. Stadium Capital Management LLC now owns 70,069 shares of the company's stock worth $7,244,000 after purchasing an additional 50,058 shares in the last quarter. Institutional investors own 99.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LCII. Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Truist Financial raised their price objective on shares of LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Robert W. Baird dropped their price objective on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, BMO Capital Markets lifted their price objective on shares of LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $103.25.

LCI Industries Stock Performance

LCII traded down $0.79 during trading on Thursday, hitting $101.06. 27,294 shares of the company traded hands, compared to its average volume of 389,519. LCI Industries has a one year low of $72.31 and a one year 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 stock's fifty day moving average is $96.41 and its 200 day moving average is $92.36. The firm has a market cap of $2.45 billion, a P/E ratio of 16.89 and a beta of 1.25.

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. 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 for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the business earned $2.40 earnings per share. LCI Industries's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts predict that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries announced that its Board of Directors has approved a share buyback 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 stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

LCI Industries Dividend Announcement

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

About LCI Industries

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.