Point72 Asia Singapore Pte. Ltd. Makes New Investment in LCI Industries (NYSE:LCII)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of LCI Industries (NYSE:LCII) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 895 shares of the company’s stock, valued at approximately $93,000.

Several other hedge funds have also modified their holdings of the stock. American Century Companies Inc. grew its holdings in LCI Industries by 30.5% during the 2nd quarter. American Century Companies Inc. now owns 418,588 shares of the company’s stock worth $43,274,000 after acquiring an additional 97,877 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of LCI Industries by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,111,900 shares of the company’s stock worth $114,945,000 after purchasing an additional 62,354 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in LCI Industries during the second quarter worth approximately $2,454,000. Pembroke Management LTD lifted its position in shares of LCI Industries by 50.8% during the 1st quarter. Pembroke Management LTD now owns 54,006 shares of the company’s stock worth $6,646,000 after buying an additional 18,194 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its position in LCI Industries by 16.1% in the second quarter. Conestoga Capital Advisors LLC now owns 128,896 shares of the company’s stock valued at $13,325,000 after acquiring an additional 17,845 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

LCI Industries Trading Up 0.3 %

Shares of LCII stock opened at $118.61 on Friday. LCI Industries has a 1-year low of $96.18 and a 1-year high of $131.36. The firm’s 50-day simple moving average is $115.77 and its 200-day simple moving average is $111.08. The firm has a market cap of $3.02 billion, a P/E ratio of 32.23 and a beta of 1.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.82 and a quick ratio of 1.23.

LCI Industries (NYSE:LCII) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.24. LCI Industries had a return on equity of 8.85% and a net margin of 3.17%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts forecast that LCI Industries will post 6.01 EPS for the current year.

LCI Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $1.05 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.20 dividend on an annualized basis and a yield of 3.54%. LCI Industries’s dividend payout ratio is currently 114.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LCII. Raymond James assumed coverage on shares of LCI Industries in a research note on Tuesday. They set a “market perform” rating on the stock. Truist Financial upped their price objective on LCI Industries from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Friday, September 20th. StockNews.com raised LCI Industries from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Finally, Benchmark reaffirmed a “buy” rating and set a $130.00 price target on shares of LCI Industries in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $108.67.

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.