Petrus Trust Company LTA Buys Shares of 9,231 LCI Industries $LCII

Key Points

• Petrus Trust Company LTA invested approximately $807,000 in LCI Industries by purchasing 9,231 shares during the first quarter, indicating growing institutional interest in the company.
• LCI Industries reported a quarterly earnings per share of $2.39, surpassing analysts' expectations of $2.22, with year-over-year revenue growth of 5.1%.
• The company initiated a $300 million stock buyback program, reflecting management's belief that its stock is undervalued.

Petrus Trust Company LTA acquired a new stake in shares of LCI Industries (NYSE:LCII - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,231 shares of the company's stock, valued at approximately $807,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Entropy Technologies LP bought a new stake in shares of LCI Industries during the 1st quarter worth about $410,000. Teacher Retirement System of Texas increased its stake in shares of LCI Industries by 136.5% during the first quarter. Teacher Retirement System of Texas now owns 9,503 shares of the company's stock valued at $831,000 after acquiring an additional 5,484 shares during the period. Russell Investments Group Ltd. raised its holdings in LCI Industries by 93,707.4% during the first quarter. Russell Investments Group Ltd. now owns 25,328 shares of the company's stock worth $2,214,000 after purchasing an additional 25,301 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in LCI Industries by 12.7% during the fourth quarter. Nuveen Asset Management LLC now owns 96,725 shares of the company's stock worth $10,000,000 after purchasing an additional 10,924 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in LCI Industries by 17.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,145 shares of the company's stock worth $7,149,000 after purchasing an additional 10,498 shares during the period. Institutional investors own 99.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LCII shares. BMO Capital Markets lifted their price target on LCI Industries from $80.00 to $85.00 and gave the company an "underperform" rating in a research report on Wednesday, August 6th. Wall Street Zen lowered LCI Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Truist Financial upped their price target on shares of LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, LCI Industries currently has a consensus rating of "Hold" and a consensus price target of $103.25.

LCI Industries Trading Up 2.1%

Shares of NYSE LCII traded up $2.13 during mid-day trading on Thursday, hitting $104.02. 215,885 shares of the company traded hands, compared to its average volume of 376,644. The company has a quick ratio of 1.34, a current ratio of 2.80 and a debt-to-equity ratio of 0.68. LCI Industries has a 1 year low of $72.31 and a 1 year high of $129.38. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 17.37 and a beta of 1.34. The business has a 50 day moving average of $100.68 and a two-hundred day moving average of $92.28.

LCI Industries (NYSE:LCII - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.39 earnings per share (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 in the previous year, the company earned $2.40 EPS. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.60 dividend on an annualized basis and a yield of 4.4%. LCI Industries's dividend payout ratio (DPR) is currently 76.79%.

LCI Industries announced that its Board of Directors has approved a stock buyback program on Thursday, May 15th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase programs are typically an indication 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.