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 acquired a new position in LCI Industries (NYSE:LCII - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,580 shares of the company's stock, valued at approximately $400,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Millennium Management LLC grew its holdings in shares of LCI Industries by 482.2% in the first quarter. Millennium Management LLC now owns 635,540 shares of the company's stock valued at $55,565,000 after acquiring an additional 526,378 shares in the last quarter. Boston Partners purchased a new position in LCI Industries in the first quarter valued at approximately $20,721,000. Jane Street Group LLC lifted its stake in LCI Industries by 651.1% in the first quarter. Jane Street Group LLC now owns 234,864 shares of the company's stock valued at $20,534,000 after purchasing an additional 203,594 shares during the last quarter. Nuveen LLC bought a new stake in LCI Industries during the 1st quarter valued at $8,355,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in LCI Industries during the 1st quarter valued at $8,093,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BMO Capital Markets boosted their target price on shares of LCI Industries from $80.00 to $85.00 and gave the company an "underperform" rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Truist Financial boosted their price target on shares of LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, LCI Industries presently has an average rating of "Hold" and an average target price of $103.25.

LCI Industries Trading Up 0.8%

Shares of LCII stock traded up $0.78 during mid-day trading on Wednesday, reaching $100.18. The stock had a trading volume of 68,002 shares, compared to its average volume of 372,495. The stock's 50-day moving average price is $100.94 and its two-hundred day moving average price is $92.08. LCI Industries has a 52-week low of $72.31 and a 52-week high of $129.38. The firm has a market capitalization of $2.43 billion, a PE ratio of 16.77 and a beta of 1.34. 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 (NYSE:LCII - Get Free Report) last announced its 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 for the quarter, compared to analyst estimates of $1.07 billion. LCI Industries had a net margin of 3.93% and a return on equity of 11.57%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.40 EPS. Equities analysts expect that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

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