Acuity Brands Inc. (AYI) Declares $0.13 Quarterly Dividend
Acuity Brands Inc. (NYSE:AYI) announced a quarterly dividend on Friday, September 30th. Stockholders of record on Tuesday, October 18th will be paid a dividend of 0.13 per share on Tuesday, November 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.20%.
Shares of Acuity Brands (NYSE:AYI) opened at 264.60 on Monday. Acuity Brands has a one year low of $169.42 and a one year high of $280.89. The company has a market capitalization of $11.51 billion, a P/E ratio of 43.23 and a beta of 1.61. The stock has a 50 day moving average price of $268.40 and a 200-day moving average price of $254.64.
In related news, EVP Mark A. Black sold 2,654 shares of the firm’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $250.27, for a total transaction of $664,216.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vernon J. Nagel sold 65,060 shares of the firm’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $268.30, for a total value of $17,455,598.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Employees Retirement System of Texas acquired a new stake in Acuity Brands during the second quarter worth $942,000. Tredje AP fonden boosted its stake in Acuity Brands by 295.7% in the second quarter. Tredje AP fonden now owns 1,820 shares of the company’s stock worth $451,000 after buying an additional 1,360 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Acuity Brands by 20.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 7,800 shares of the company’s stock worth $1,934,000 after buying an additional 1,300 shares in the last quarter. Trexquant Investment LP acquired a new stake in Acuity Brands during the second quarter worth $1,537,000. Finally, Reliance Trust Co. of Delaware acquired a new stake in Acuity Brands during the second quarter worth $224,000. 93.26% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on AYI. Zacks Investment Research downgraded Acuity Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 30th. Roth Capital started coverage on Acuity Brands in a research note on Thursday, August 25th. They set a “neutral” rating and a $275.00 target price for the company. William Blair restated an “outperform” rating on shares of Acuity Brands in a research note on Monday, July 25th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $295.00 target price on shares of Acuity Brands in a research note on Friday, September 16th. Finally, Canaccord Genuity restated a “buy” rating and set a $305.00 target price on shares of Acuity Brands in a research note on Friday, September 23rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $281.78.
About Acuity Brands
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
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