LCI Industries $LCII Shares Acquired by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in LCI Industries by 76.0%, owning approximately 0.36% of the company, worth $7.86 million as of the latest filing.
• LCI Industries reported quarterly earnings of $2.39 EPS, exceeding estimates, and a revenue of $1.11 billion, marking a 5.1% year-over-year increase.
• The company has declared a quarterly dividend of $1.15 per share, representing a 4.4% dividend yield, with an ongoing stock buyback program of $300 million.

Trexquant Investment LP lifted its stake in LCI Industries (NYSE:LCII - Free Report) by 76.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 89,902 shares of the company's stock after acquiring an additional 38,824 shares during the quarter. Trexquant Investment LP owned 0.36% of LCI Industries worth $7,860,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in shares of LCI Industries in the 1st quarter worth approximately $28,000. LRI Investments LLC lifted its holdings in shares of LCI Industries by 345.6% in the 4th quarter. LRI Investments LLC now owns 401 shares of the company's stock worth $41,000 after acquiring an additional 311 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of LCI Industries by 535.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company's stock worth $46,000 after acquiring an additional 439 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of LCI Industries by 45.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 534 shares of the company's stock worth $47,000 after acquiring an additional 167 shares during the last quarter. Finally, SouthState Corp lifted its holdings in shares of LCI Industries by 4,483.3% in the 1st quarter. SouthState Corp now owns 550 shares of the company's stock worth $48,000 after acquiring an additional 538 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LCII shares. Truist Financial increased their target price 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. Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Robert W. Baird reduced their target price 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. Finally, BMO Capital Markets increased their target price on shares of LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, LCI Industries currently has an average rating of "Hold" and a consensus target price of $103.25.

LCI Industries Stock Up 2.0%

Shares of LCII traded up $2.11 during midday trading on Thursday, reaching $105.16. The stock had a trading volume of 65,271 shares, compared to its average volume of 379,886. LCI Industries has a 1-year low of $72.31 and a 1-year high of $129.38. The company's fifty day simple moving average is $99.62 and its two-hundred day simple moving average is $92.41. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 17.56 and a beta of 1.34. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.80 and a quick ratio of 1.34.

LCI Industries (NYSE:LCII - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.22 by $0.17. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.07 billion. LCI Industries had a net margin of 3.93% and a return on equity of 11.57%. LCI Industries's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.40 earnings per share. Equities research analysts expect that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries announced that its Board of Directors has approved a share repurchase plan on Thursday, May 15th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

LCI Industries Announces Dividend

The firm also recently declared 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. The ex-dividend date 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 is currently 76.79%.

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.