Bank of America Corp DE Acquires 32,600 Shares of LSI Industries Inc. (NASDAQ:LYTS)

Bank of America Corp DE grew its position in LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 86.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 70,356 shares of the construction company's stock after buying an additional 32,600 shares during the period. Bank of America Corp DE owned approximately 0.24% of LSI Industries worth $1,366,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in shares of LSI Industries by 894.8% during the fourth quarter. Russell Investments Group Ltd. now owns 2,099 shares of the construction company's stock valued at $41,000 after buying an additional 1,888 shares during the last quarter. Aquatic Capital Management LLC bought a new position in LSI Industries in the 4th quarter valued at approximately $46,000. Quantbot Technologies LP boosted its stake in LSI Industries by 777.3% during the 4th quarter. Quantbot Technologies LP now owns 3,632 shares of the construction company's stock valued at $71,000 after purchasing an additional 3,218 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of LSI Industries in the 4th quarter worth $82,000. Finally, State of Tennessee Department of Treasury bought a new stake in shares of LSI Industries in the 4th quarter worth $186,000. 73.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LYTS has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price target on shares of LSI Industries in a report on Friday, April 25th. Canaccord Genuity Group decreased their target price on LSI Industries from $26.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Wall Street Zen cut shares of LSI Industries from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, April 30th.

LSI Industries Stock Performance

NASDAQ:LYTS traded up $0.18 during trading hours on Friday, reaching $16.26. The company had a trading volume of 133,017 shares, compared to its average volume of 132,750. The firm has a market cap of $486.52 million, a price-to-earnings ratio of 21.12 and a beta of 0.27. The company has a current ratio of 2.08, a quick ratio of 1.20 and a debt-to-equity ratio of 0.16. The firm's 50 day moving average price is $15.90 and its 200-day moving average price is $18.24. LSI Industries Inc. has a 52 week low of $13.63 and a 52 week high of $25.50.

LSI Industries (NASDAQ:LYTS - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The construction company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. The firm had revenue of $132.48 million for the quarter, compared to the consensus estimate of $129.72 million. LSI Industries had a return on equity of 11.25% and a net margin of 4.47%. On average, analysts forecast that LSI Industries Inc. will post 0.7 EPS for the current year.

LSI Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Monday, May 5th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.23%. LSI Industries's dividend payout ratio is currently 27.78%.

LSI Industries Profile

LSI Industries Inc produces and sells non-residential lighting and retail display solutions in the United States, Canada, Mexico, and Latin America. It operates through two segments, Lighting and Display Solutions. The Lighting segment manufactures, markets, and sells non-residential outdoor and indoor lighting fixture and control solutions in the commercial and industrial markets.