Cubist Systematic Strategies LLC Buys New Position in LCI Industries (NYSE:LCII)

Cubist Systematic Strategies LLC bought a new position in shares of LCI Industries (NYSE:LCII - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 23,738 shares of the company's stock, valued at approximately $2,454,000. Cubist Systematic Strategies LLC owned 0.09% of LCI Industries as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LCII. Benjamin F. Edwards & Company Inc. grew its holdings in LCI Industries by 532.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 373 shares of the company's stock worth $46,000 after buying an additional 314 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of LCI Industries in the first quarter valued at about $46,000. Fidelis Capital Partners LLC bought a new position in shares of LCI Industries during the first quarter valued at about $68,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of LCI Industries during the second quarter valued at about $93,000. Finally, nVerses Capital LLC boosted its holdings in LCI Industries by 7.7% during the second quarter. nVerses Capital LLC now owns 1,400 shares of the company's stock worth $145,000 after purchasing an additional 100 shares during the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LCII has been the subject of several analyst reports. Benchmark reiterated a "buy" rating and issued a $130.00 price objective on shares of LCI Industries in a research note on Wednesday, August 7th. Raymond James started coverage on shares of LCI Industries in a report on Tuesday, October 1st. They set a "market perform" rating for the company. Truist Financial upped their price objective on LCI Industries from $100.00 to $108.00 and gave the company a "hold" rating in a research note on Friday, September 20th. Finally, StockNews.com downgraded LCI Industries from a "buy" rating to a "hold" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, LCI Industries has a consensus rating of "Hold" and a consensus price target of $112.20.

LCI Industries Stock Performance

Shares of LCI Industries stock traded up $3.53 during trading hours on Friday, reaching $117.42. The company had a trading volume of 127,266 shares, compared to its average volume of 228,569. 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 has a one year low of $96.18 and a one year high of $131.36. The firm has a market cap of $2.99 billion, a PE ratio of 31.91 and a beta of 1.41. The business has a fifty day simple moving average of $116.10 and a 200 day simple moving average of $111.10.

LCI Industries (NYSE:LCII - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $2.40 earnings per share 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 business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $1.31 EPS. The company's quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts anticipate that LCI Industries will post 5.97 earnings per share for the current fiscal year.

LCI Industries Announces Dividend

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

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.