Victory Capital Management Inc. Purchases 59,233 Shares of LCI Industries (NYSE:LCII)

Victory Capital Management Inc. grew its position in shares of LCI Industries (NYSE:LCII - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 695,508 shares of the company's stock after acquiring an additional 59,233 shares during the period. Victory Capital Management Inc. owned about 2.76% of LCI Industries worth $60,808,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LCII. Norges Bank bought a new position in shares of LCI Industries during the fourth quarter valued at about $26,402,000. Dimensional Fund Advisors LP raised its stake in LCI Industries by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company's stock worth $127,904,000 after buying an additional 87,764 shares in the last quarter. Vanguard Group Inc. raised its stake in LCI Industries by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 2,913,270 shares of the company's stock worth $301,203,000 after buying an additional 56,794 shares in the last quarter. Stadium Capital Management LLC raised its stake in LCI Industries by 250.2% in the fourth quarter. Stadium Capital Management LLC now owns 70,069 shares of the company's stock worth $7,244,000 after buying an additional 50,058 shares in the last quarter. Finally, Twinbeech Capital LP bought a new position in LCI Industries in the fourth quarter worth about $5,065,000. 99.71% of the stock is owned by institutional investors.

LCI Industries Stock Down 0.8%

Shares of NYSE:LCII traded down $0.75 during trading on Friday, reaching $97.16. 196,269 shares of the stock traded hands, compared to its average volume of 318,656. The stock has a 50-day moving average of $91.92 and a two-hundred day moving average of $93.17. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 2.96. The stock has a market cap of $2.45 billion, a P/E ratio of 15.93 and a beta of 1.26.

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

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

LCI Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $1.15 per share. The ex-dividend date was Friday, May 30th. This represents a $4.60 dividend on an annualized basis and a yield of 4.73%. LCI Industries's dividend payout ratio (DPR) is 75.41%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LCII shares. Wall Street Zen raised shares of LCI Industries from a "hold" rating to a "buy" rating in a research note on Monday, July 14th. Baird R W cut shares of LCI Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Truist Financial upped their price objective 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. Finally, Robert W. Baird cut 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $114.50.

LCI Industries 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.