Dimensional Fund Advisors LP Raises Stake in LCI Industries (NYSE:LCII)

Posted by on Sep 8th, 2023

Dimensional Fund Advisors LP raised its stake in shares of LCI Industries (NYSE:LCII – Free Report) by 13.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 994,645 shares of the company’s stock after buying an additional 118,918 shares during the quarter. Dimensional Fund Advisors LP’s holdings in LCI Industries were worth $109,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Eagle Bay Advisors LLC purchased a new position in LCI Industries during the second quarter valued at approximately $28,000. Covestor Ltd boosted its holdings in LCI Industries by 85.3% in the 1st quarter. Covestor Ltd now owns 417 shares of the company’s stock valued at $43,000 after purchasing an additional 192 shares during the period. Strs Ohio purchased a new position in shares of LCI Industries during the 1st quarter valued at $54,000. Bessemer Group Inc. increased its holdings in shares of LCI Industries by 105.2% in the first quarter. Bessemer Group Inc. now owns 669 shares of the company’s stock worth $73,000 after purchasing an additional 343 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of LCI Industries by 381.2% in the fourth quarter. Quadrant Capital Group LLC now owns 895 shares of the company’s stock worth $83,000 after purchasing an additional 709 shares during the period. 99.71% of the stock is currently owned by institutional investors.

LCI Industries Price Performance

LCII opened at $117.46 on Friday. The company has a current ratio of 2.80, a quick ratio of 0.92 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $2.97 billion, a P/E ratio of 35.38 and a beta of 1.51. The stock has a 50-day moving average price of $127.55 and a 200-day moving average price of $117.78. LCI Industries has a 12-month low of $89.28 and a 12-month high of $137.07.

LCI Industries (NYSE:LCII – Get Free Report) last issued its earnings results on Tuesday, August 8th. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.06). The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $997.16 million. LCI Industries had a return on equity of 6.14% and a net margin of 2.12%. The firm’s quarterly revenue was down 33.9% compared to the same quarter last year. During the same period in the prior year, the company earned $6.06 EPS. Equities analysts predict that LCI Industries will post 4.92 earnings per share for the current fiscal year.

LCI Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Thursday, August 31st. LCI Industries’s payout ratio is presently 126.51%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LCII. StockNews.com initiated coverage on LCI Industries in a research note on Thursday, August 17th. They set a “hold” rating for the company. CJS Securities lowered LCI Industries from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 9th. Finally, Truist Financial upped their price objective on shares of LCI Industries from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.57.

Check Out Our Latest Research Report on LCII

About LCI Industries

(Free Report)

LCI Industries, together with its subsidiaries, manufactures and supplies components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates in two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures and distributes a range of engineered components, such as steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; electronic components; appliances; air conditioners; televisions and sound systems; tankless water heaters; towing products; truck accessories; and other accessories.

See Also

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Institutional Ownership by Quarter for LCI Industries (NYSE:LCII)

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