Sei Investments Co. Sells 6,803 Shares of Acuity Brands Inc (AYI)
Sei Investments Co. cut its position in shares of Acuity Brands Inc (NYSE:AYI) by 19.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,620 shares of the electronics maker’s stock after selling 6,803 shares during the period. Sei Investments Co. owned about 0.07% of Acuity Brands worth $5,818,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AYI. Tudor Investment Corp ET AL acquired a new position in Acuity Brands during the first quarter worth $3,203,000. Wellington Management Group LLP raised its position in Acuity Brands by 377.5% in the first quarter. Wellington Management Group LLP now owns 13,432 shares of the electronics maker’s stock worth $2,740,000 after buying an additional 10,619 shares in the last quarter. Congress Asset Management Co. MA raised its position in Acuity Brands by 18.5% in the first quarter. Congress Asset Management Co. MA now owns 466,387 shares of the electronics maker’s stock worth $95,143,000 after buying an additional 72,735 shares in the last quarter. 1st Global Advisors Inc. raised its position in Acuity Brands by 118.4% in the first quarter. 1st Global Advisors Inc. now owns 9,372 shares of the electronics maker’s stock worth $1,912,000 after buying an additional 5,081 shares in the last quarter. Finally, Nippon Life Global Investors Americas Inc. raised its position in Acuity Brands by 77.1% in the first quarter. Nippon Life Global Investors Americas Inc. now owns 74,330 shares of the electronics maker’s stock worth $15,163,000 after buying an additional 32,370 shares in the last quarter. Institutional investors and hedge funds own 95.15% of the company’s stock.
Acuity Brands Inc (NYSE:AYI) opened at 182.14 on Wednesday. The firm has a 50-day moving average of $198.13 and a 200 day moving average of $192.17. The company has a market capitalization of $7.85 billion, a P/E ratio of 25.41 and a beta of 1.41. Acuity Brands Inc has a one year low of $157.33 and a one year high of $280.89.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Thursday, June 29th. The electronics maker reported $2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.12. The firm had revenue of $891.60 million during the quarter, compared to analysts’ expectations of $878.66 million. Acuity Brands had a net margin of 9.04% and a return on equity of 19.89%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.06 earnings per share. On average, equities analysts forecast that Acuity Brands Inc will post $8.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, July 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.29%. Acuity Brands’s dividend payout ratio (DPR) is presently 7.24%.
Acuity Brands announced that its Board of Directors has initiated a share buyback program on Thursday, June 29th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the electronics maker to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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AYI has been the subject of a number of recent research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $215.00 price objective (down from $245.00) on shares of Acuity Brands in a research note on Tuesday, May 30th. Roth Capital set a $150.00 price objective on shares of Acuity Brands and gave the company a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. JMP Securities reiterated an “underperform” rating and issued a $183.00 price objective (up from $170.00) on shares of Acuity Brands in a research note on Friday, June 30th. Finally, BidaskClub lowered shares of Acuity Brands from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. Acuity Brands has an average rating of “Hold” and a consensus price target of $219.00.
In other news, EVP Mark A. Black sold 5,427 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $205.29, for a total value of $1,114,108.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Browning sold 970 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $200.05, for a total transaction of $194,048.50. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at $200,050. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
Acuity Brands Company Profile
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.
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