State of Wyoming Purchases New Holdings in LCI Industries $LCII

State of Wyoming purchased a new stake in shares of LCI Industries (NYSE:LCII) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 528 shares of the company’s stock, valued at approximately $46,000.

A number of other institutional investors also recently added to or reduced their stakes in LCII. Boston Partners acquired a new stake in LCI Industries during the first quarter valued at approximately $20,721,000. Jane Street Group LLC boosted its holdings in LCI Industries by 651.1% during the first quarter. Jane Street Group LLC now owns 234,864 shares of the company’s stock valued at $20,534,000 after purchasing an additional 203,594 shares in the last quarter. Nuveen LLC acquired a new stake in LCI Industries during the first quarter valued at approximately $8,355,000. Dimensional Fund Advisors LP boosted its holdings in LCI Industries by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,326,349 shares of the company’s stock valued at $115,961,000 after purchasing an additional 89,230 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in LCI Industries by 9.3% during the first 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. 99.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded LCI Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Truist Financial boosted their target price on LCI Industries from $80.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday, June 3rd. Finally, BMO Capital Markets upped their price objective on LCI Industries from $80.00 to $85.00 and gave the stock an “underperform” rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LCI Industries currently has a consensus rating of “Hold” and an average target price of $103.25.

LCI Industries Trading Down 1.8%

LCI Industries stock opened at $103.36 on Wednesday. LCI Industries has a 52 week low of $72.31 and a 52 week high of $129.38. The stock has a market capitalization of $2.51 billion, a P/E ratio of 17.26 and a beta of 1.34. The stock has a 50-day simple moving average of $100.63 and a 200 day simple moving average of $92.21. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.34 and a current ratio of 2.80.

LCI Industries (NYSE:LCII) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.17. LCI Industries had a return on equity of 11.57% and a net margin of 3.93%.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 company posted $2.40 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. Analysts expect that LCI Industries will post 6.76 earnings per share for the current year.

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

LCI Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, August 29th. LCI Industries’s payout ratio is 76.79%.

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.