7,948 Shares in LCI Industries (NYSE:LCII) Bought by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd has acquired a new stake in LCI Industries, purchasing 7,948 shares worth approximately $695,000 in the first quarter.
• LCI Industries reported a quarterly EPS of $2.19, exceeding estimates, and announced a $300 million stock buyback program indicating confidence in its share value.
• The company has declared a quarterly dividend of $1.15 per share, with a yield of 4.64% and a payout ratio of 75.41%.

Y Intercept Hong Kong Ltd acquired a new stake 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 & Exchange Commission. The firm acquired 7,948 shares of the company's stock, valued at approximately $695,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LCII. Teacher Retirement System of Texas increased its position in shares of LCI Industries by 22.4% during the 4th quarter. Teacher Retirement System of Texas now owns 4,019 shares of the company's stock valued at $416,000 after purchasing an additional 735 shares during the period. KLP Kapitalforvaltning AS bought a new position in LCI Industries during the fourth quarter valued at about $558,000. LPL Financial LLC grew its holdings in LCI Industries by 21.0% during the fourth quarter. LPL Financial LLC now owns 26,178 shares of the company's stock worth $2,770,000 after acquiring an additional 4,548 shares during the period. Vanguard Group Inc. raised its position 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 acquiring an additional 56,794 shares in the last quarter. Finally, Norges Bank acquired a new stake in LCI Industries in the 4th quarter valued at about $26,402,000. Institutional investors own 99.71% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LCII. Truist Financial lifted their price objective on shares of LCI Industries from $80.00 to $88.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Wall Street Zen upgraded shares of LCI Industries from a "hold" rating to a "buy" rating in a research report on Monday, July 14th. Robert W. Baird cut their price objective on LCI Industries from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Baird R W cut LCI Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $114.50.

LCI Industries Trading Down 0.5%

LCI Industries stock traded down $0.54 during midday trading on Monday, reaching $98.74. The stock had a trading volume of 340,830 shares, compared to its average volume of 396,734. LCI Industries has a twelve month low of $72.31 and a twelve month high of $129.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.96 and a quick ratio of 1.41. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 16.19 and a beta of 1.26. The firm's fifty day simple moving average is $92.84 and its two-hundred day simple moving average is $92.97.

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

LCI Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Friday, May 30th. LCI Industries's dividend payout ratio (DPR) is 75.41%.

LCI Industries declared that its Board of Directors has approved a share buyback plan on Thursday, May 15th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board 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.