23,738 Shares in LCI Industries (NYSE:LCII) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new stake in shares of LCI Industries (NYSE:LCII) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 23,738 shares of the company’s stock, valued at approximately $2,454,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in LCI Industries by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,800,882 shares of the company’s stock valued at $344,677,000 after buying an additional 15,670 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in LCI Industries by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock valued at $114,945,000 after acquiring an additional 62,354 shares in the last quarter. Principal Financial Group Inc. lifted its position in LCI Industries by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 609,232 shares of the company’s stock valued at $74,972,000 after acquiring an additional 10,539 shares in the last quarter. American Century Companies Inc. boosted its stake in LCI Industries by 30.5% in the 2nd quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock worth $43,274,000 after purchasing an additional 97,877 shares during the period. Finally, Conestoga Capital Advisors LLC increased its holdings in LCI Industries by 16.1% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 128,896 shares of the company’s stock worth $13,325,000 after purchasing an additional 17,845 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on LCII. Benchmark restated a “buy” rating and issued a $130.00 target price on shares of LCI Industries in a research note on Wednesday, August 7th. Truist Financial increased their target price on shares of LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Friday, September 20th. StockNews.com cut shares of LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Raymond James started coverage on LCI Industries in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.20.

LCI Industries Price Performance

LCI Industries stock opened at $117.42 on Friday. LCI Industries has a 52 week low of $96.18 and a 52 week high of $131.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.23 and a current ratio of 2.82. The stock has a fifty day moving average of $116.10 and a 200-day moving average of $111.13. The stock has a market capitalization of $2.99 billion, a P/E ratio of 31.91 and a beta of 1.41.

LCI Industries (NYSE:LCII) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.24. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.05 billion. LCI Industries had a return on equity of 8.85% and a net margin of 3.17%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.31 earnings per share. On average, sell-side analysts expect that LCI Industries will post 5.97 earnings per share for the current fiscal year.

LCI Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Friday, August 30th. LCI Industries’s dividend payout ratio is currently 114.13%.

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.