MQS Management LLC Purchases Shares of 7,457 LCI Industries (NYSE:LCII)

MQS Management LLC bought a new stake in shares of LCI Industries (NYSE:LCII - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,457 shares of the company's stock, valued at approximately $652,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its stake in LCI Industries by 178.0% during the 1st quarter. Cerity Partners LLC now owns 7,394 shares of the company's stock worth $646,000 after purchasing an additional 4,734 shares during the last quarter. ARGA Investment Management LP boosted its stake in LCI Industries by 5.6% during the 1st quarter. ARGA Investment Management LP now owns 28,543 shares of the company's stock worth $2,496,000 after purchasing an additional 1,513 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in LCI Industries by 136.5% during the 1st quarter. Teacher Retirement System of Texas now owns 9,503 shares of the company's stock worth $831,000 after purchasing an additional 5,484 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in LCI Industries by 4.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 14,539 shares of the company's stock worth $1,271,000 after purchasing an additional 618 shares during the last quarter. Finally, Conestoga Capital Advisors LLC raised its holdings in LCI Industries by 7.2% in the 1st quarter. Conestoga Capital Advisors LLC now owns 177,716 shares of the company's stock valued at $15,538,000 after buying an additional 12,000 shares during the period. Institutional investors and hedge funds own 99.71% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LCII. Baird R W lowered shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Robert W. Baird reduced their price objective on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of LCI Industries from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Truist Financial boosted their price target on shares of LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $114.50.

LCI Industries Trading Down 0.4%

NYSE:LCII traded down $0.43 on Wednesday, reaching $96.43. 267,095 shares of the company's stock were exchanged, compared to its average volume of 320,014. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 15.81 and a beta of 1.26. The company has a quick ratio of 1.41, a current ratio of 2.96 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $91.44 and a 200-day moving average of $93.30.

LCI Industries (NYSE:LCII - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.64. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $972.04 million. LCI Industries had a return on equity of 11.63% and a net margin of 4.08%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. As a group, analysts expect that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $1.15 dividend. The ex-dividend date was Friday, May 30th. This represents a $4.60 annualized dividend and a yield of 4.77%. LCI Industries's dividend payout ratio is currently 75.41%.

LCI Industries declared that its Board of Directors has approved a stock buyback plan on Thursday, May 15th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

LCI Industries Company 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.