XTX Topco Ltd Invests $635,000 in LCI Industries (NYSE:LCII)

Key Points

• XTX Topco Ltd has acquired a $635,000 position in LCI Industries, purchasing 7,261 shares of the company's stock.
• LCI Industries recently declared a quarterly dividend of $1.15, translating to an annualized yield of 4.8%.
• Institutional investors currently hold 99.71% of LCI Industries' stock, indicating strong institutional interest in the company.

XTX Topco Ltd purchased a new position in shares of LCI Industries (NYSE:LCII - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,261 shares of the company's stock, valued at approximately $635,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of LCI Industries by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,237,119 shares of the company's stock valued at $127,904,000 after purchasing an additional 87,764 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of LCI Industries by 9.3% in the 1st quarter. Victory Capital Management Inc. now owns 695,508 shares of the company's stock valued at $60,808,000 after purchasing an additional 59,233 shares in the last quarter. Royce & Associates LP raised its position in shares of LCI Industries by 6.4% in the 1st quarter. Royce & Associates LP now owns 581,590 shares of the company's stock valued at $50,848,000 after purchasing an additional 34,967 shares in the last quarter. Northern Trust Corp raised its position in shares of LCI Industries by 12.9% in the 4th quarter. Northern Trust Corp now owns 319,742 shares of the company's stock valued at $33,058,000 after purchasing an additional 36,505 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its position in shares of LCI Industries by 5.6% in the 4th quarter. Frontier Capital Management Co. LLC now owns 292,028 shares of the company's stock valued at $30,193,000 after purchasing an additional 15,408 shares in the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LCII shares. Wall Street Zen lowered LCI Industries from a "buy" rating to a "hold" rating in a research report 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 report on Wednesday, May 7th. Truist Financial upped their price target on LCI Industries from $80.00 to $88.00 and gave the company a "hold" rating in a research report on Tuesday, June 3rd. Finally, BMO Capital Markets upped their price target on LCI Industries from $80.00 to $85.00 and gave the company an "underperform" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $103.25.

LCI Industries Stock Performance

LCII traded down $0.66 during trading on Friday, reaching $95.12. 254,755 shares of the company were exchanged, compared to its average volume of 325,345. The stock has a market cap of $2.31 billion, a P/E ratio of 15.88 and a beta of 1.25. The firm has a 50 day moving average of $94.29 and a 200 day moving average of $92.55. 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 has a 52 week low of $72.31 and a 52 week high of $129.38.

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

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 paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Friday, May 30th. LCI Industries's dividend payout ratio is presently 76.79%.

LCI Industries declared that its Board of Directors has approved a share buyback program on Thursday, May 15th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to repurchase up to 13.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.