Inscription Capital LLC bought a new position in Acuity, Inc. (NYSE:AYI – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,583 shares of the electronics maker’s stock, valued at approximately $490,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Acuity during the second quarter valued at $1,121,983,000. Bank of America Corp DE bought a new position in shares of Acuity during the 2nd quarter valued at about $106,018,000. Alua Capital Management LP purchased a new position in shares of Acuity during the first quarter valued at about $63,377,000. Bank of New York Mellon Corp purchased a new position in shares of Acuity during the second quarter valued at about $77,212,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Acuity by 87.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 213,801 shares of the electronics maker’s stock worth $59,911,000 after purchasing an additional 100,036 shares during the last quarter. Institutional investors own 98.21% of the company’s stock.
Insider Activity
In related news, SVP Barry R. Goldman sold 3,800 shares of Acuity stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $321.48, for a total transaction of $1,221,624.00. Following the completion of the transaction, the senior vice president directly owned 6,580 shares of the company’s stock, valued at approximately $2,115,338.40. The trade was a 36.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Neil Ashe sold 8,187 shares of the company’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $324.44, for a total transaction of $2,656,190.28. Following the transaction, the chief executive officer owned 78,075 shares in the company, valued at $25,330,653. The trade was a 9.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 36,047 shares of company stock valued at $11,537,354. 2.90% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Oppenheimer decreased their target price on Acuity from $440.00 to $415.00 and set an “outperform” rating on the stock in a research report on Thursday, October 8th. Robert W. Baird reduced their price objective on Acuity from $360.00 to $348.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. William Blair downgraded Acuity from an “outperform” rating to a “market perform” rating in a research report on Monday, September 28th. Wall Street Zen lowered shares of Acuity from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Finally, Morgan Stanley reduced their price target on shares of Acuity from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 20th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $374.20.
View Our Latest Stock Report on AYI
Acuity Price Performance
NYSE:AYI opened at $323.44 on Friday. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.61 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.70 and a quick ratio of 1.28. The business has a 50 day simple moving average of $313.78 and a 200-day simple moving average of $310.15. Acuity, Inc. has a 1 year low of $257.04 and a 1 year high of $380.17.
Acuity (NYSE:AYI – Get Free Report) last released its earnings results on Thursday, October 1st. The electronics maker reported $5.77 earnings per share for the quarter, beating the consensus estimate of $5.57 by $0.20. Acuity had a return on equity of 20.30% and a net margin of 11.45%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company posted $5.20 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts forecast that Acuity, Inc. will post 20.04 EPS for the current year.
Acuity Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 16th were given a dividend of $0.20 per share. The ex-dividend date was Friday, October 16th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Acuity’s payout ratio is 4.68%.
About Acuity
Acuity (NYSE: AYI) designs, manufactures and sells lighting and building-management solutions. Its offerings include indoor and outdoor luminaires, lighting controls, building automation systems and related software for commercial, industrial, institutional and residential settings.
The company sells products under a portfolio of brands, including Lithonia Lighting, Juno, Peerless, Gotham and Distech Controls. Its solutions help customers manage lighting, building systems and energy use across a range of facilities.
Founded in 2001 as a spin-off from National Service Industries, Acuity is headquartered in Atlanta, Georgia, and serves customers in North America and selected international markets.
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