Insider Selling: Acuity Brands Inc (NYSE:AYI) Director Sells 970 Shares of Stock
Acuity Brands Inc (NYSE:AYI) Director Peter C. Browning sold 970 shares of the firm’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $200.05, for a total value of $194,048.50. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at approximately $200,050. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of Acuity Brands Inc (NYSE AYI) traded up 0.71% during mid-day trading on Friday, hitting $204.70. The stock had a trading volume of 851,673 shares. The stock’s 50-day moving average is $174.08 and its 200 day moving average is $198.22. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 28.55 and a beta of 1.42. Acuity Brands Inc has a 1-year low of $157.33 and a 1-year high of $280.89.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Thursday, June 29th. The electronics maker reported $2.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.12. Acuity Brands had a net margin of 9.04% and a return on equity of 19.89%. The business had revenue of $891.60 million for the quarter, compared to analyst estimates of $878.66 million. During the same quarter in the prior year, the business posted $2.06 EPS. Acuity Brands’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts predict that Acuity Brands Inc will post $8.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, July 14th. Acuity Brands’s dividend payout ratio (DPR) is currently 7.24%.
TRADEMARK VIOLATION WARNING: This piece was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/07/16/acuity-brands-inc-nyseayi-director-sells-194048-50-in-stock-updated.html.
Several hedge funds have recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC increased its stake in Acuity Brands by 58.1% in the first quarter. Integrated Investment Consultants LLC now owns 558 shares of the electronics maker’s stock valued at $114,000 after buying an additional 205 shares during the period. WFG Advisors LP increased its stake in Acuity Brands by 2,896.3% in the fourth quarter. WFG Advisors LP now owns 809 shares of the electronics maker’s stock valued at $123,000 after buying an additional 782 shares during the period. Van ECK Associates Corp increased its stake in Acuity Brands by 7.7% in the first quarter. Van ECK Associates Corp now owns 614 shares of the electronics maker’s stock valued at $125,000 after buying an additional 44 shares during the period. Capital Analysts LLC increased its stake in shares of Acuity Brands by 3.8% in the first quarter. Capital Analysts LLC now owns 680 shares of the electronics maker’s stock worth $139,000 after buying an additional 25 shares during the period. Finally, Global X Management Co. LLC increased its stake in shares of Acuity Brands by 204.1% in the first quarter. Global X Management Co. LLC now owns 745 shares of the electronics maker’s stock worth $152,000 after buying an additional 500 shares during the period. 95.09% of the stock is currently owned by institutional investors and hedge funds.
AYI has been the topic of a number of research analyst reports. Roth Capital set a $150.00 target price on Acuity Brands and gave the company a “sell” rating in a report on Wednesday, March 22nd. Canaccord Genuity reiterated a “buy” rating on shares of Acuity Brands in a research note on Tuesday, March 28th. Zacks Investment Research cut Acuity Brands from a “hold” rating to a “sell” rating in a research note on Monday, March 20th. Deutsche Bank AG reiterated a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Acuity Brands in a research note on Tuesday, May 30th. Finally, Robert W. Baird dropped their price target on Acuity Brands from $242.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, April 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $219.00.
About Acuity Brands
Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.
Receive News & Stock Ratings for Acuity Brands Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands Inc and related stocks with our FREE daily email newsletter.