Dark Forest Capital Management LP Acquires 51,643 Shares of LCI Industries $LCII

Dark Forest Capital Management LP boosted its position in shares of LCI Industries (NYSE:LCII) by 691.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,111 shares of the company’s stock after buying an additional 51,643 shares during the period. Dark Forest Capital Management LP’s holdings in LCI Industries were worth $5,168,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SVB Wealth LLC acquired a new stake in shares of LCI Industries in the 1st quarter valued at approximately $28,000. LRI Investments LLC lifted its position in shares of LCI Industries by 345.6% in the 4th quarter. LRI Investments LLC now owns 401 shares of the company’s stock worth $41,000 after purchasing an additional 311 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of LCI Industries by 535.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 521 shares of the company’s stock valued at $46,000 after acquiring an additional 439 shares in the last quarter. State of Wyoming bought a new stake in shares of LCI Industries in the 1st quarter valued at $46,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of LCI Industries by 45.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 534 shares of the company’s stock valued at $47,000 after acquiring an additional 167 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

LCI Industries Stock Performance

Shares of LCII stock opened at $105.32 on Tuesday. The firm has a market capitalization of $2.55 billion, a PE ratio of 17.58 and a beta of 1.34. The firm has a fifty day simple moving average of $99.10 and a two-hundred day simple moving average of $92.26. The company has a current ratio of 2.80, a quick ratio of 1.34 and a debt-to-equity ratio of 0.68. LCI Industries has a 12 month low of $72.31 and a 12 month high of $129.38.

LCI Industries (NYSE:LCII) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.17. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. LCI Industries had a net margin of 3.93% and a return on equity of 11.57%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.40 EPS. Analysts forecast that LCI Industries will post 6.76 EPS for the current fiscal year.

LCI Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, August 29th. LCI Industries’s payout ratio is currently 76.79%.

LCI Industries declared that its board has initiated a share buyback program on Thursday, May 15th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 13.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LCII. Wall Street Zen lowered shares of LCI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. BMO Capital Markets boosted their price target on shares of LCI Industries from $80.00 to $85.00 and gave the company an “underperform” rating in a research note on Wednesday, August 6th. Truist Financial boosted their price target on shares of LCI Industries from $80.00 to $88.00 and gave the company a “hold” rating in a research note on Tuesday, June 3rd. Finally, Robert W. Baird decreased their price target on shares of LCI Industries from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $103.25.

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.