113,257 Shares in LSI Industries Inc. $LYTS Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments disclosed a new first-quarter stake in LSI Industries, buying 113,257 shares valued at about $2.1 million, or roughly 0.36% of the company.
• Insider selling was notable, with EVP Thomas A. Caneris selling 109,226 shares and Director Wilfred T. Ogara selling 10,369 shares; insiders sold 256,173 shares total over the past 90 days.
• LSI Industries recently missed quarterly earnings expectations, reporting EPS of $0.06 versus $0.40 expected, while analysts still maintain a Moderate Buy consensus with a $28.75 price target.

Allspring Global Investments Holdings LLC bought a new stake in LSI Industries Inc. (NASDAQ:LYTS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 113,257 shares of the construction company's stock, valued at approximately $2,107,000. Allspring Global Investments Holdings LLC owned approximately 0.36% of LSI Industries at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in LSI Industries by 205.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,534 shares of the construction company's stock valued at $28,000 after purchasing an additional 1,031 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of LSI Industries by 57.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company's stock worth $31,000 after purchasing an additional 625 shares in the last quarter. Strs Ohio purchased a new position in shares of LSI Industries in the 1st quarter worth about $34,000. New York State Teachers Retirement System bought a new position in shares of LSI Industries during the 4th quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of LSI Industries during the 2nd quarter valued at about $47,000. 73.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at LSI Industries

In other LSI Industries news, EVP Thomas A. Caneris sold 109,226 shares of the company's stock in a transaction on Thursday, May 28th. The shares were 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 in the company, valued at approximately $1,573,749.10. This represents a 62.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wilfred T. Ogara sold 10,369 shares of LSI Industries stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $24.09, for a total transaction of $249,789.21. Following the transaction, the director directly owned 103,686 shares of the company's stock, valued at approximately $2,497,795.74. This trade represents a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 256,173 shares of company stock valued at $6,220,368. 7.30% of the stock is currently owned by company insiders.

LSI Industries Price Performance

Shares of LSI Industries stock opened at $23.23 on Friday. The firm has a market cap of $852.77 million, a PE ratio of 30.97 and a beta of 0.53. LSI Industries Inc. has a 12-month low of $17.20 and a 12-month high of $27.36. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58. The company's fifty day simple moving average is $24.56 and its two-hundred day simple moving average is $22.21.

LSI Industries (NASDAQ:LYTS - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The construction company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.34). LSI Industries had a net margin of 3.91% and a return on equity of 8.90%. The business had revenue of $150.53 million for the quarter, compared to analysts' expectations of $163.53 million. As a group, equities analysts expect that LSI Industries Inc. will post 0.78 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LYTS shares. Weiss Ratings downgraded LSI Industries from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. Oppenheimer started coverage on shares of LSI Industries in a research report on Tuesday, June 9th. They set an "outperform" rating and a $30.00 price target on the stock. Zacks Research raised shares of LSI Industries from a "strong sell" rating to a "hold" rating in a research note on Monday, March 30th. Finally, Wall Street Zen lowered shares of LSI Industries from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, LSI Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.75.

LSI Industries Company 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.

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