Expect Equity LLC Purchases New Holdings in LSI Industries Inc. $LYTS

Expect Equity LLC acquired a new position in LSI Industries Inc. (NASDAQ:LYTS) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 142,209 shares of the construction company’s stock, valued at approximately $3,780,000. LSI Industries accounts for about 2.4% of Expect Equity LLC’s portfolio, making the stock its 8th largest holding.

Several other large investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of LSI Industries in the 2nd quarter valued at $41,000. Rockefeller Capital Management L.P. boosted its holdings in LSI Industries by 57.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company’s stock valued at $31,000 after acquiring an additional 625 shares during the last quarter. New York State Teachers Retirement System bought a new position in LSI Industries in the fourth quarter valued at about $36,000. Strs Ohio acquired a new stake in LSI Industries in the first quarter worth about $34,000. Finally, Quarry LP acquired a new stake in LSI Industries in the third quarter worth about $55,000. Institutional investors and hedge funds own 73.91% of the company’s stock.

Insider Activity

In related news, CFO James E. Galeese sold 136,578 shares of LSI Industries stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $24.29, for a total transaction of $3,317,479.62. Following the transaction, the chief financial officer owned 173,288 shares of the company’s stock, valued at $4,209,165.52. This trade represents a 44.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas A. Caneris sold 109,226 shares of LSI Industries stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $24.29, for a total transaction of $2,653,099.54. Following the transaction, the executive vice president directly owned 64,790 shares in the company, valued at $1,573,749.10. The trade was a 62.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 256,173 shares of company stock valued at $6,220,368. Insiders own 7.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on LYTS. HC Wainwright reissued a “buy” rating on shares of LSI Industries in a report on Friday. Oppenheimer lowered their price target on shares of LSI Industries from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday, August 21st. Weiss Ratings cut shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Morgan Stanley set a $30.00 price target on shares of LSI Industries in a research note on Friday. Finally, Wall Street Zen lowered shares of LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

LSI Industries Stock Up 5.4%

Shares of LSI Industries stock opened at $20.65 on Wednesday. The business has a fifty day simple moving average of $24.40 and a 200 day simple moving average of $22.66. The stock has a market cap of $758.06 million, a PE ratio of 30.82 and a beta of 0.56. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58. LSI Industries Inc. has a 12 month low of $17.20 and a 12 month high of $27.36.

LSI Industries (NASDAQ:LYTS) last released its earnings results on Thursday, August 20th. The construction company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. LSI Industries had a return on equity of 8.04% and a net margin of 3.28%.The firm had revenue of $234.62 million for the quarter, compared to analyst estimates of $222.78 million. Research analysts predict that LSI Industries Inc. will post 1.18 EPS for the current year.

LSI Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 31st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. LSI Industries’s dividend payout ratio is 29.85%.

LSI Industries Profile

LSI Industries, Inc (NASDAQ: LYTS) is a diversified manufacturer and distributor of lighting, graphics and building technology products. Headquartered in Cincinnati, Ohio, the company develops energy-efficient LED lighting systems, branded and digital graphic displays, and integrated building technology solutions. Serving customers in the retail, quick-service and convenience store, industrial, hospitality and transportation markets, LSI combines design, engineering and manufacturing capabilities to address both aesthetic and functional needs.

In its lighting segment, LSI offers interior and exterior LED fixtures, canopy lights, high-bay and low-bay systems, and specialized horticultural grow lights.