WBI Investments LLC Acquires New Stake in LCI Industries $LCII

Key Points

• WBI Investments LLC has invested approximately $400,000 in LCI Industries, acquiring 4,580 shares in the first quarter.
• LCI Industries reported a Q2 earnings per share of $2.39, exceeding analysts' estimates and showing a revenue increase of 5.1% year-over-year.
• The company announced a quarterly dividend of $1.15 per share, representing a dividend yield of 4.4%, with a payout ratio of 76.79%.

WBI Investments LLC purchased a new position in shares of LCI Industries (NYSE:LCII - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,580 shares of the company's stock, valued at approximately $400,000.

A number of other institutional investors have also recently bought and sold shares of LCII. SVB Wealth LLC acquired a new position in LCI Industries during the first quarter worth approximately $28,000. Whittier Trust Co. of Nevada Inc. increased its position in LCI Industries by 535.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company's stock worth $46,000 after buying an additional 439 shares during the last quarter. State of Wyoming acquired a new position in LCI Industries during the first quarter worth approximately $46,000. Smartleaf Asset Management LLC increased its position in LCI Industries by 45.5% during the first quarter. Smartleaf Asset Management LLC now owns 534 shares of the company's stock worth $47,000 after buying an additional 167 shares during the last quarter. Finally, SouthState Corp boosted its holdings in shares of LCI Industries by 4,483.3% during the first quarter. SouthState Corp now owns 550 shares of the company's stock worth $48,000 after acquiring an additional 538 shares during the period. Institutional investors and hedge funds own 99.71% of the company's stock.

Wall Street Analysts Forecast Growth

LCII has been the subject of a number of research analyst reports. Truist Financial boosted their price objective on LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. BMO Capital Markets boosted their price target on LCI Industries from $80.00 to $85.00 and gave the company an "underperform" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen cut LCI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, LCI Industries has a consensus rating of "Hold" and an average target price of $103.25.

LCI Industries Price Performance

NYSE LCII traded down $3.69 on Friday, hitting $100.32. 143,980 shares of the company's stock were exchanged, compared to its average volume of 211,469. The stock has a 50-day moving average of $100.85 and a 200-day moving average of $92.06. The company has a current ratio of 2.80, a quick ratio of 1.34 and a debt-to-equity ratio of 0.68. LCI Industries has a 52 week low of $72.31 and a 52 week high of $129.38. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 16.75 and a beta of 1.34.

LCI Industries (NYSE:LCII - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.39 earnings per share 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 during the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the prior year, the company earned $2.40 earnings per share. The company's quarterly revenue was up 5.1% on a year-over-year basis. Analysts expect that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were paid a dividend of $1.15 per share. The ex-dividend date was Friday, August 29th. This represents a $4.60 annualized dividend and a yield of 4.6%. LCI Industries's dividend payout ratio is presently 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.