Petrus Trust Company LTA Purchases 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 bought a new position in LCI Industries (NYSE:LCII - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,231 shares of the company's stock, valued at approximately $807,000.

Several other institutional investors have also recently made changes to their positions in the company. Covestor Ltd lifted its holdings in shares of LCI Industries by 15.7% in the 1st quarter. Covestor Ltd now owns 885 shares of the company's stock worth $77,000 after acquiring an additional 120 shares during the last quarter. Smartleaf Asset Management LLC grew its position in LCI Industries by 45.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 534 shares of the company's stock valued at $47,000 after acquiring an additional 167 shares during the last quarter. Apollon Wealth Management LLC grew its position in LCI Industries by 6.1% in the 1st quarter. Apollon Wealth Management LLC now owns 3,640 shares of the company's stock valued at $318,000 after acquiring an additional 208 shares during the last quarter. LRI Investments LLC grew its position in LCI Industries by 345.6% in the 4th quarter. LRI Investments LLC now owns 401 shares of the company's stock valued at $41,000 after acquiring an additional 311 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in LCI Industries in the 1st quarter valued at $28,000. Institutional investors own 99.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on LCII shares. BMO Capital Markets raised their price target 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. Wall Street Zen downgraded shares of LCI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Truist Financial raised 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. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $103.25.

LCI Industries Stock Down 1.8%

LCI Industries stock traded down $1.88 during midday trading on Tuesday, hitting $103.36. 329,688 shares of the company's stock were exchanged, compared to its average volume of 236,929. 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 50-day moving average of $100.63 and a two-hundred day moving average of $92.21. The company has a market cap of $2.51 billion, a PE ratio of 17.26 and a beta of 1.34.

LCI Industries (NYSE:LCII - Get Free Report) last issued its earnings results 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 net margin of 3.93% and a return on equity of 11.57%. The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the prior year, the business earned $2.40 EPS. The firm's quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Announces Dividend

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

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

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.