Blueshift Asset Management LLC Invests $366,000 in Acuity, Inc. (NYSE:AYI)

Key Points

• Blueshift Asset Management LLC has invested approximately $366,000 in Acuity, Inc. by purchasing 1,390 shares, signaling investor interest in the electronics maker.
• Acuity, Inc. reported strong quarterly earnings with an EPS of $5.12, surpassing estimates and showing a 21.7% year-over-year revenue increase.
• The company has a significant institutional ownership, with 98.21% of its stock held by institutional investors and hedge funds.

Blueshift Asset Management LLC bought a new position in shares of Acuity, Inc. (NYSE:AYI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,390 shares of the electronics maker's stock, valued at approximately $366,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AYI. Cullen Frost Bankers Inc. increased its position in shares of Acuity by 525.0% during the first quarter. Cullen Frost Bankers Inc. now owns 125 shares of the electronics maker's stock worth $33,000 after purchasing an additional 105 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of Acuity during the fourth quarter worth about $42,000. National Bank of Canada FI increased its position in shares of Acuity by 50.5% during the fourth quarter. National Bank of Canada FI now owns 161 shares of the electronics maker's stock worth $47,000 after purchasing an additional 54 shares in the last quarter. UMB Bank n.a. increased its position in shares of Acuity by 45.3% during the first quarter. UMB Bank n.a. now owns 250 shares of the electronics maker's stock worth $66,000 after purchasing an additional 78 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of Acuity during the fourth quarter worth about $71,000. Institutional investors and hedge funds own 98.21% of the company's stock.

Acuity Price Performance

Shares of AYI opened at $304.87 on Friday. Acuity, Inc. has a twelve month low of $216.81 and a twelve month high of $345.30. The stock's 50 day moving average is $286.83 and its two-hundred day moving average is $281.54. The firm has a market capitalization of $9.34 billion, a PE ratio of 24.02, a P/E/G ratio of 1.87 and a beta of 1.64. The company has a current ratio of 1.99, a quick ratio of 1.38 and a debt-to-equity ratio of 0.39.

Acuity (NYSE:AYI - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The electronics maker reported $5.12 EPS for the quarter, topping the consensus estimate of $4.44 by $0.68. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Acuity had a return on equity of 20.35% and a net margin of 9.63%. The company's quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.15 EPS. Research analysts anticipate that Acuity, Inc. will post 15.86 earnings per share for the current year.

Acuity Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Friday, July 18th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. Acuity's payout ratio is 5.36%.

Insider Activity at Acuity

In related news, SVP Barry R. Goldman sold 4,125 shares of Acuity stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $298.30, for a total transaction of $1,230,487.50. Following the completion of the transaction, the senior vice president directly owned 6,638 shares in the company, valued at $1,980,115.40. The trade was a 38.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Karen J. Holcom sold 6,000 shares of Acuity stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $301.04, for a total value of $1,806,240.00. Following the transaction, the chief financial officer owned 18,696 shares of the company's stock, valued at $5,628,243.84. This represents a 24.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on AYI shares. Robert W. Baird lifted their target price on Acuity from $315.00 to $335.00 and gave the stock a "neutral" rating in a research report on Friday, June 27th. Wall Street Zen raised Acuity from a "buy" rating to a "strong-buy" rating in a report on Friday, June 27th. Morgan Stanley raised their price target on Acuity from $335.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Finally, Wells Fargo & Company raised their price target on Acuity from $285.00 to $320.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Acuity has an average rating of "Moderate Buy" and a consensus price target of $340.60.

Acuity Company 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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