Versor Investments LP Raises Stock Position in LCI Industries (NYSE:LCII)

Versor Investments LP raised its stake in shares of LCI Industries (NYSE:LCII) by 14.0% during the third quarter, Holdings Channel reports. The firm owned 3,305 shares of the company’s stock after buying an additional 405 shares during the quarter. Versor Investments LP’s holdings in LCI Industries were worth $398,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LCII. American Century Companies Inc. increased its position in LCI Industries by 30.5% during the 2nd quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock valued at $43,274,000 after purchasing an additional 97,877 shares during the period. Dimensional Fund Advisors LP increased its position in LCI Industries by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock valued at $114,945,000 after purchasing an additional 62,354 shares during the period. Principal Financial Group Inc. increased its position in LCI Industries by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 632,221 shares of the company’s stock valued at $76,202,000 after purchasing an additional 36,487 shares during the period. Conestoga Capital Advisors LLC increased its position in LCI Industries by 26.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 163,006 shares of the company’s stock valued at $19,649,000 after purchasing an additional 34,110 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of LCI Industries in the 2nd quarter worth about $2,454,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

LCI Industries Stock Performance

Shares of LCII stock opened at $114.16 on Friday. LCI Industries has a one year low of $96.18 and a one year high of $131.36. The company’s 50-day moving average is $116.88 and its 200 day moving average is $111.69. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 22.21 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 2.88.

LCI Industries (NYSE:LCII) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.31 by $0.08. LCI Industries had a net margin of 3.47% and a return on equity of 9.48%. The company had revenue of $915.50 million for the quarter, compared to the consensus estimate of $922.85 million. During the same period in the prior year, the firm posted $1.02 EPS. LCI Industries’s revenue for the quarter was down 4.6% on a year-over-year basis. Sell-side analysts expect that LCI Industries will post 5.65 EPS for the current fiscal year.

LCI Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 4.03%. This is a boost from LCI Industries’s previous quarterly dividend of $1.05. LCI Industries’s dividend payout ratio is currently 81.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LCII. Benchmark reaffirmed a “buy” rating and issued a $130.00 target price on shares of LCI Industries in a research report on Wednesday, August 7th. StockNews.com downgraded shares of LCI Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Raymond James began coverage on shares of LCI Industries in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Finally, Truist Financial upped their target price on shares of LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $112.20.

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.