Wolverine Asset Management LLC Purchases Shares of 9,432 LCI Industries (NYSE:LCII)

Key Points

• Wolverine Asset Management LLC purchased 9,432 shares of LCI Industries, valued at approximately $825,000, indicating institutional interest in the company.
• LCI Industries reported $2.39 earnings per share (EPS) for the last quarter, exceeding analysts’ expectations of $2.22, and announced a quarterly dividend of $1.15 per share.
• Various analysts have downgraded LCI Industries' rating, with a consensus rating of “Hold” and a price target set at $103.25.

Wolverine Asset Management LLC acquired a new position in shares of LCI Industries (NYSE:LCII - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,432 shares of the company's stock, valued at approximately $825,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in LCII. LRI Investments LLC raised its position in LCI Industries by 345.6% during the fourth quarter. LRI Investments LLC now owns 401 shares of the company's stock worth $41,000 after acquiring an additional 311 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised 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 valued at $46,000 after purchasing an additional 439 shares during the period. Covestor Ltd lifted its stake in LCI Industries by 159.3% in the 4th quarter. Covestor Ltd now owns 765 shares of the company's stock valued at $79,000 after purchasing an additional 470 shares during the last quarter. Vestcor Inc acquired a new stake in LCI Industries in the 1st quarter valued at about $158,000. Finally, Lido Advisors LLC bought a new position in LCI Industries during the fourth quarter worth about $201,000. Institutional investors own 99.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LCII. Wall Street Zen lowered LCI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Robert W. Baird dropped their price target on LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Truist Financial raised their price target on LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a report on Tuesday, June 3rd. Finally, BMO Capital Markets upped their price objective on shares of LCI Industries from $80.00 to $85.00 and gave the company an "underperform" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $103.25.

LCI Industries Stock Performance

NYSE:LCII opened at $95.12 on Friday. The stock has a 50 day simple moving average of $94.29 and a 200 day simple moving average of $92.46. The stock has a market cap of $2.31 billion, a P/E ratio of 15.88 and a beta of 1.25. LCI Industries has a 1-year low of $72.31 and a 1-year high of $129.38. The company has a current ratio of 2.80, a quick ratio of 1.41 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 (EPS) for the quarter, beating 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 company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the business posted $2.40 earnings per share. LCI Industries's quarterly revenue was up 5.1% on a year-over-year basis. Research analysts anticipate that LCI Industries will post 6.76 earnings per share for the current year.

LCI Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $4.60 annualized dividend and a dividend yield of 4.8%. LCI Industries's dividend payout ratio (DPR) is currently 76.79%.

LCI Industries announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 15th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to purchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

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.

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