Zions Bancorporation National Association UT Makes New $1.32 Million Investment in LCI Industries (NYSE:LCII)

Key Points

• Zions Bancorporation made a new investment of approximately $1.32 million in LCI Industries, acquiring 15,138 shares during the first quarter of this year.
• LCI Industries reported better-than-expected earnings with an EPS of $2.39, exceeding analysts' estimates of $2.22, along with revenue of $1.11 billion for the quarter.
• The company has initiated a $300 million stock repurchase plan, indicating management's belief that the shares are undervalued, alongside announcing a quarterly dividend of $1.15 per share.

Zions Bancorporation National Association UT purchased a new position in LCI Industries (NYSE:LCII - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,138 shares of the company's stock, valued at approximately $1,324,000. Zions Bancorporation National Association UT owned about 0.06% of LCI Industries as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC grew its position in LCI Industries by 345.6% in the fourth quarter. LRI Investments LLC now owns 401 shares of the company's stock worth $41,000 after buying an additional 311 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in LCI Industries by 535.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company's stock worth $46,000 after purchasing an additional 439 shares in the last quarter. Covestor Ltd grew its position in LCI Industries by 159.3% during the 4th quarter. Covestor Ltd now owns 765 shares of the company's stock worth $79,000 after purchasing an additional 470 shares in the last quarter. Vestcor Inc purchased a new position in LCI Industries during the 1st quarter worth approximately $158,000. Finally, Lido Advisors LLC purchased a new position in LCI Industries during the 4th quarter worth approximately $201,000. Institutional investors and hedge funds own 99.71% of the company's stock.

LCI Industries Trading Down 0.7%

LCI Industries stock opened at $95.12 on Friday. The company's fifty day simple moving average is $94.29 and its 200-day simple moving average is $92.46. The company has a quick ratio of 1.41, a current ratio of 2.80 and a debt-to-equity ratio of 0.68. LCI Industries has a 12 month low of $72.31 and a 12 month high of $129.38. 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 (NYSE:LCII - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.22 by $0.17. LCI Industries had a net margin of 3.93% and a return on equity of 11.57%. The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the company posted $2.40 EPS. LCI Industries's revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries announced that its board has initiated a stock repurchase plan on Thursday, May 15th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to reacquire up to 13.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

LCI Industries Announces Dividend

The business also recently declared 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. This represents a $4.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Friday, May 30th. LCI Industries's payout ratio is currently 76.79%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Robert W. Baird lowered their price objective on shares of LCI Industries from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. BMO Capital Markets lifted their price objective on shares of LCI Industries from $80.00 to $85.00 and gave the stock an "underperform" rating in a research report on Wednesday. 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 report on Tuesday, June 3rd. Finally, Wall Street Zen cut shares of LCI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $103.25.

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.

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