Acuity Brands Inc. (AYI) Shares Bought by Redwood Investments LLC
Redwood Investments LLC increased its stake in Acuity Brands Inc. (NYSE:AYI) by 40,862.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,407 shares of the company’s stock after buying an additional 68,240 shares during the period. Acuity Brands comprises 1.6% of Redwood Investments LLC’s holdings, making the stock its 25th largest position. Redwood Investments LLC owned 0.16% of Acuity Brands worth $16,962,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in Acuity Brands during the second quarter valued at $153,000. Genesee Valley Trust Co. bought a new position in Acuity Brands during the second quarter valued at $207,000. Cue Financial Group Inc. bought a new position in Acuity Brands during the second quarter valued at $253,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in Acuity Brands during the first quarter valued at $273,000. Finally, UMB Bank N A MO boosted its position in Acuity Brands by 26.3% in the second quarter. UMB Bank N A MO now owns 1,561 shares of the company’s stock valued at $387,000 after buying an additional 325 shares during the period. Hedge funds and other institutional investors own 93.26% of the company’s stock.
Acuity Brands Inc. (NYSE:AYI) traded down 0.41% during midday trading on Monday, reaching $263.52. 272,493 shares of the company traded hands. The company has a 50 day moving average of $268.40 and a 200-day moving average of $254.64. The stock has a market capitalization of $11.46 billion, a P/E ratio of 43.05 and a beta of 1.46. Acuity Brands Inc. has a 12-month low of $169.42 and a 12-month high of $280.89.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Friday, October 14th. Acuity Brands’s payout ratio is currently 8.48%.
AYI has been the subject of a number of analyst reports. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $295.00 target price on shares of Acuity Brands in a report on Friday, September 16th. Canaccord Genuity reaffirmed a “buy” rating and set a $305.00 target price on shares of Acuity Brands in a report on Friday, September 23rd. Roth Capital initiated coverage on shares of Acuity Brands in a report on Thursday, August 25th. They set a “neutral” rating and a $275.00 target price for the company. Zacks Investment Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating in a report on Tuesday, June 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Acuity Brands in a report on Monday, July 25th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $281.78.
In other news, CFO Richard K. Reece sold 33,430 shares of the firm’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $269.07, for a total transaction of $8,995,010.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark A. Black sold 2,654 shares of the firm’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $250.27, for a total transaction of $664,216.58. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
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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