Globeflex Capital L P lessened its holdings in shares of LSI Industries Inc. (NASDAQ:LYTS – Free Report) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 193,850 shares of the construction company’s stock after selling 75,196 shares during the quarter. Globeflex Capital L P’s holdings in LSI Industries were worth $3,551,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of LSI Industries by 3.2% during the third quarter. Vanguard Group Inc. now owns 1,657,475 shares of the construction company’s stock valued at $39,133,000 after acquiring an additional 50,722 shares in the last quarter. AltraVue Capital LLC boosted its position in shares of LSI Industries by 2.1% during the third quarter. AltraVue Capital LLC now owns 1,339,140 shares of the construction company’s stock valued at $31,617,000 after purchasing an additional 27,140 shares in the last quarter. Royce & Associates LP boosted its position in shares of LSI Industries by 16.4% during the fourth quarter. Royce & Associates LP now owns 1,216,349 shares of the construction company’s stock valued at $22,284,000 after purchasing an additional 171,124 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of LSI Industries by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 763,182 shares of the construction company’s stock valued at $13,985,000 after purchasing an additional 26,700 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of LSI Industries by 70.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 742,592 shares of the construction company’s stock valued at $13,604,000 after purchasing an additional 306,864 shares in the last quarter. Institutional investors own 73.91% of the company’s stock.
LSI Industries Trading Up 1.3%
NASDAQ LYTS opened at $23.14 on Friday. 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 twelve month low of $16.00 and a twelve month high of $24.99. The firm has a market capitalization of $849.47 million, a PE ratio of 30.85 and a beta of 0.53. The stock’s 50 day moving average is $21.77 and its 200 day moving average is $20.59.
LSI Industries Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Monday, May 4th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, May 4th. LSI Industries’s dividend payout ratio is currently 26.67%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on LYTS shares. Weiss Ratings lowered LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Zacks Research upgraded LSI Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Wall Street Zen lowered LSI Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.
View Our Latest Stock Analysis on LYTS
Insider Activity
In other news, CFO James E. Galeese sold 136,578 shares of LSI Industries stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $24.29, for a total value of $3,317,479.62. Following the completion of the transaction, the chief financial officer owned 173,288 shares of the company’s stock, valued at $4,209,165.52. The trade was a 44.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas A. Caneris sold 109,226 shares of LSI Industries stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $24.29, for a total value of $2,653,099.54. Following the completion of the transaction, the executive vice president directly owned 64,790 shares of the company’s stock, valued at approximately $1,573,749.10. This represents a 62.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 256,173 shares of company stock worth $6,220,368 over the last three months. 7.30% of the stock is currently owned by corporate insiders.
About LSI Industries
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.
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