Versor Investments LP Raises Stock Position in LCI Industries $LCII

Key Points

• Versor Investments LP increased its holdings in LCI Industries by 135.3% during the first quarter, now owning approximately $1.63 million worth of stock.
• LCI Industries reported earnings of $2.39 per share, surpassing analysts' expectations, along with a 5.1% increase in revenue year-over-year.
• The company's board approved a $300 million share repurchase program, reflecting confidence in the stock's value amid market fluctuations.

Versor Investments LP boosted its position in LCI Industries (NYSE:LCII - Free Report) by 135.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,609 shares of the company's stock after purchasing an additional 10,700 shares during the period. Versor Investments LP owned about 0.07% of LCI Industries worth $1,627,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LCII. Covestor Ltd boosted its stake in shares of LCI Industries by 15.7% during the 1st quarter. Covestor Ltd now owns 885 shares of the company's stock valued at $77,000 after purchasing an additional 120 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of LCI Industries by 5.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,595 shares of the company's stock valued at $268,000 after purchasing an additional 130 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in shares of LCI Industries by 6.1% during the 1st quarter. Apollon Wealth Management LLC now owns 3,640 shares of the company's stock valued at $318,000 after purchasing an additional 208 shares in the last quarter. LRI Investments LLC boosted its stake in shares of LCI Industries by 345.6% during the 4th quarter. LRI Investments LLC now owns 401 shares of the company's stock valued at $41,000 after purchasing an additional 311 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its stake in shares of LCI Industries by 12.2% during the 1st quarter. Wesbanco Bank Inc. now owns 3,043 shares of the company's stock valued at $266,000 after purchasing an additional 330 shares in the last quarter. 99.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

LCI Industries Price Performance

Shares of LCI Industries stock traded up $6.07 during trading hours on Friday, reaching $107.68. The company's stock had a trading volume of 177,654 shares, compared to its average volume of 389,146. The firm has a 50 day moving average price of $96.63 and a 200-day moving average price of $92.36. LCI Industries has a one year low of $72.31 and a one year high of $129.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.80 and a quick ratio of 1.34. The stock has a market cap of $2.61 billion, a P/E ratio of 17.96 and a beta of 1.25.

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

LCI Industries announced that its board has initiated a stock buyback program on Thursday, May 15th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

LCI Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, August 29th. 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.