GAMMA Investing LLC Reduces Position in LCI Industries (NYSE:LCII)

GAMMA Investing LLC reduced its position in LCI Industries (NYSE:LCII) by 33.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 331 shares of the company’s stock after selling 170 shares during the period. GAMMA Investing LLC’s holdings in LCI Industries were worth $29,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. LRI Investments LLC boosted its holdings in LCI Industries by 345.6% in the fourth quarter. LRI Investments LLC now owns 401 shares of the company’s stock valued at $41,000 after acquiring an additional 311 shares during the last quarter. Headlands Technologies LLC acquired a new stake in LCI Industries in the fourth quarter valued at $59,000. Covestor Ltd raised its stake in shares of 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 in the last quarter. Lido Advisors LLC acquired a new stake in LCI Industries during the fourth quarter valued at approximately $201,000. Finally, O Shaughnessy Asset Management LLC raised its position in shares of LCI Industries by 11.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,263 shares of the company’s stock valued at $234,000 after acquiring an additional 238 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

LCI Industries Trading Down 0.9%

NYSE:LCII opened at $100.25 on Friday. The stock’s 50-day moving average is $90.50 and its two-hundred day moving average is $93.43. LCI Industries has a fifty-two week low of $72.31 and a fifty-two week high of $129.38. The stock has a market cap of $2.53 billion, a PE ratio of 16.43 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.96 and a quick ratio of 1.41.

LCI Industries (NYSE:LCII) last issued its earnings results on Tuesday, May 6th. The company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.64. The firm 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%. The business’s quarterly revenue 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. As a group, equities research analysts forecast that LCI Industries will post 6.76 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Friday, May 30th. LCI Industries’s dividend payout ratio is presently 75.41%.

LCI Industries announced that its Board of Directors has initiated a share repurchase program on Thursday, May 15th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 13.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Truist Financial increased their price target on LCI Industries from $80.00 to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, June 3rd. 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 note on Wednesday, May 7th. Baird R W lowered LCI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Wall Street Zen cut LCI Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 6th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $114.50.

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.