Globeflex Capital L P Decreases Holdings in LSI Industries Inc. $LYTS

Key Points

• Globeflex Capital cut its LSI Industries stake by 27.9% in the fourth quarter, selling 75,196 shares and leaving it with 193,850 shares worth about $3.55 million.
• LSI Industries reported weaker-than-expected quarterly results, posting EPS of $0.06 versus the $0.40 consensus and revenue of $150.53 million versus $163.53 million expected.
• There has also been notable selling by insiders, including EVP Thomas A. Caneris and Director Wilfred T. Ogara, while analysts currently rate the stock a Moderate Buy with a $28.33 price target.

Globeflex Capital L P trimmed its position in shares of LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 27.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,850 shares of the construction company's stock after selling 75,196 shares during the period. Globeflex Capital L P owned about 0.62% of LSI Industries worth $3,551,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Thrivent Financial for Lutherans purchased a new position in shares of LSI Industries during the 3rd quarter valued at about $10,288,000. Royce & Associates LP raised its holdings in shares of LSI Industries by 50.0% during the 3rd quarter. Royce & Associates LP now owns 1,045,225 shares of the construction company's stock valued at $24,678,000 after buying an additional 348,598 shares in the last quarter. AltraVue Capital LLC raised its holdings in shares of LSI Industries by 2.1% during the 3rd quarter. AltraVue Capital LLC now owns 1,339,140 shares of the construction company's stock valued at $31,617,000 after buying an additional 27,140 shares in the last quarter. Legato Capital Management LLC raised its holdings in shares of LSI Industries by 8.7% during the 4th quarter. Legato Capital Management LLC now owns 394,103 shares of the construction company's stock valued at $7,220,000 after buying an additional 31,429 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of LSI Industries during the 1st quarter valued at about $34,000. 73.91% of the stock is owned by hedge funds and other institutional investors.

LSI Industries Price Performance

LYTS opened at $23.14 on Friday. The stock's 50 day simple moving average is $21.77 and its 200 day simple moving average is $20.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.48 and a quick ratio of 0.86. LSI Industries Inc. has a 1 year low of $16.00 and a 1 year high of $24.99. The firm has a market cap of $849.47 million, a price-to-earnings ratio of 30.85 and a beta of 0.53.

LSI Industries (NASDAQ:LYTS - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.34). LSI Industries had a return on equity of 8.90% and a net margin of 3.91%.The company had revenue of $150.53 million for the quarter, compared to the consensus estimate of $163.53 million. As a group, analysts predict that LSI Industries Inc. will post 0.81 earnings per share for the current year.

LSI Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Monday, May 4th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.9%. LSI Industries's payout ratio is 26.67%.

Analyst Ratings Changes

LYTS has been the topic of a number of research reports. Zacks Research raised LSI Industries from a "strong sell" rating to a "hold" rating in a report on Monday, March 30th. Weiss Ratings cut LSI Industries from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 22nd. Finally, Wall Street Zen cut LSI Industries from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, LSI Industries has a consensus rating of "Moderate Buy" and a consensus price target of $28.33.

Insider Activity at LSI Industries

In related news, EVP Thomas A. Caneris sold 109,226 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $24.29, for a total transaction of $2,653,099.54. Following the completion of the transaction, the executive vice president owned 64,790 shares in the company, valued at $1,573,749.10. This represents a 62.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wilfred T. Ogara sold 10,369 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $24.09, for a total value of $249,789.21. Following the transaction, the director owned 103,686 shares of the company's stock, valued at approximately $2,497,795.74. This represents a 9.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 256,173 shares of company stock worth $6,220,368 over the last quarter. 7.30% of the stock is owned by corporate insiders.

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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