Expect Equity LLC Grows Stock Position in LSI Industries Inc. $LYTS

Key Points

• Expect Equity LLC raised its stake in LSI Industries by 11.2%, acquiring a total of 136,854 shares, making it the company's 15th largest holding.
• LSI Industries announced a quarterly dividend of $0.05, with a dividend yield of 0.9% and a payout ratio of 25.32%.
• Analysts have set a consensus price target of $27.67 for LSI Industries, with several firms issuing buy ratings, including Canaccord Genuity and Craig Hallum.

Expect Equity LLC lifted its holdings in shares of LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 11.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 136,854 shares of the construction company's stock after acquiring an additional 13,730 shares during the period. LSI Industries accounts for approximately 2.6% of Expect Equity LLC's investment portfolio, making the stock its 15th biggest holding. Expect Equity LLC owned approximately 0.46% of LSI Industries worth $2,327,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State of Wyoming acquired a new stake in shares of LSI Industries during the 1st quarter worth about $244,000. Systematic Financial Management LP increased its position in LSI Industries by 0.9% during the first quarter. Systematic Financial Management LP now owns 2,565,826 shares of the construction company's stock worth $43,619,000 after buying an additional 22,982 shares during the period. Informed Momentum Co LLC increased its position in LSI Industries by 1.8% during the first quarter. Informed Momentum Co LLC now owns 52,521 shares of the construction company's stock worth $893,000 after buying an additional 905 shares during the period. Nuveen LLC acquired a new position in LSI Industries during the first quarter worth approximately $1,432,000. Finally, Vanguard Group Inc. increased its position in LSI Industries by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,624,265 shares of the construction company's stock worth $27,613,000 after buying an additional 47,341 shares during the period. Institutional investors and hedge funds own 73.91% of the company's stock.

Insider Activity

In related news, CEO James Anthony Clark sold 26,597 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $23.08, for a total transaction of $613,858.76. Following the transaction, the chief executive officer directly owned 421,313 shares in the company, valued at approximately $9,723,904.04. This represents a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO James E. Galeese sold 6,064 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $23.08, for a total value of $139,957.12. Following the transaction, the chief financial officer owned 173,288 shares in the company, valued at $3,999,487.04. This trade represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,205 shares of company stock worth $927,931 over the last three months. 8.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LYTS has been the topic of several research analyst reports. Canaccord Genuity Group lifted their price target on LSI Industries from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Wall Street Zen raised LSI Industries from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 24th. Finally, Craig Hallum reaffirmed a "buy" rating and set a $28.00 price target on shares of LSI Industries in a research report on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $27.67.

LSI Industries Price Performance

Shares of NASDAQ:LYTS traded down $0.01 on Wednesday, hitting $22.77. The company had a trading volume of 49,416 shares, compared to its average volume of 146,047. The company has a current ratio of 2.08, a quick ratio of 1.25 and a debt-to-equity ratio of 0.24. LSI Industries Inc. has a 52-week low of $13.77 and a 52-week high of $25.50. The business has a 50 day moving average of $18.89 and a 200 day moving average of $17.46. The company has a market cap of $681.28 million, a PE ratio of 28.85 and a beta of 0.27.

LSI Industries (NASDAQ:LYTS - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.09. LSI Industries had a return on equity of 11.25% and a net margin of 4.25%.The business had revenue of $155.07 million for the quarter, compared to the consensus estimate of $138.89 million. As a group, equities analysts anticipate that LSI Industries Inc. will post 0.7 earnings per share for the current fiscal year.

LSI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, September 2nd will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 2nd. LSI Industries's dividend payout ratio is currently 25.32%.

About LSI Industries

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.