Apollon Wealth Management LLC Raises Holdings in Acuity, Inc. $AYI

Key Points

• Apollon Wealth Management LLC increased its holdings in Acuity, Inc. by 29.1% during the 2nd quarter, bringing its total to 4,441 shares valued at approximately $1.3 million.
• Several hedge funds also adjusted their positions in Acuity, with Cullen Frost Bankers Inc. significantly increasing its stake by 525% in the 1st quarter.
• Acuity recently declared a quarterly dividend of $0.17, with a yield of 0.2%, to be paid on November 3rd to investors of record as of October 17th.

Apollon Wealth Management LLC increased its holdings in Acuity, Inc. (NYSE:AYI - Free Report) by 29.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,441 shares of the electronics maker's stock after acquiring an additional 1,000 shares during the period. Apollon Wealth Management LLC's holdings in Acuity were worth $1,325,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in Acuity in the second quarter worth approximately $32,000. Cullen Frost Bankers Inc. boosted its position in shares of Acuity by 525.0% during the 1st quarter. Cullen Frost Bankers Inc. now owns 125 shares of the electronics maker's stock worth $33,000 after purchasing an additional 105 shares during the period. Reyes Financial Architecture Inc. boosted its position in shares of Acuity by 31.7% during the 1st quarter. Reyes Financial Architecture Inc. now owns 320 shares of the electronics maker's stock worth $84,000 after purchasing an additional 77 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of Acuity by 1,789.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 359 shares of the electronics maker's stock worth $95,000 after purchasing an additional 340 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Acuity by 31.2% during the 2nd quarter. UMB Bank n.a. now owns 328 shares of the electronics maker's stock worth $98,000 after purchasing an additional 78 shares during the period. 98.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AYI. Zacks Research raised shares of Acuity from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Robert W. Baird increased their price objective on shares of Acuity from $335.00 to $360.00 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Cowen reaffirmed a "buy" rating on shares of Acuity in a research report on Thursday, October 2nd. Oppenheimer raised their price target on shares of Acuity from $380.00 to $435.00 and gave the company an "outperform" rating in a research report on Thursday, October 2nd. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Acuity in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $395.17.

Acuity Price Performance

Shares of AYI opened at $359.76 on Tuesday. Acuity, Inc. has a 1-year low of $216.81 and a 1-year high of $375.67. The stock has a market cap of $11.03 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 1.87 and a beta of 1.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.95 and a quick ratio of 1.33. The firm has a fifty day moving average price of $333.87 and a 200 day moving average price of $292.24.

Acuity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 17th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. Acuity's payout ratio is 5.43%.

Acuity Profile

Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.

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