Hsbc Holdings PLC Sells 24,661 Shares of LSI Industries Inc. $LYTS

Hsbc Holdings PLC lessened its stake in LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 43.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,479 shares of the construction company's stock after selling 24,661 shares during the quarter. Hsbc Holdings PLC owned about 0.11% of LSI Industries worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Informed Momentum Co LLC increased its position in LSI Industries by 1.8% in the 1st quarter. Informed Momentum Co LLC now owns 52,521 shares of the construction company's stock valued at $893,000 after acquiring an additional 905 shares in the last quarter. Nuveen LLC acquired a new stake in LSI Industries in the 1st quarter valued at about $1,432,000. Vanguard Group Inc. grew its position in shares of LSI Industries by 3.0% during the 1st 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. PNC Financial Services Group Inc. grew its position in shares of LSI Industries by 2.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 22,856 shares of the construction company's stock worth $389,000 after buying an additional 643 shares during the period. Finally, Knights of Columbus Asset Advisors LLC grew its position in shares of LSI Industries by 160.9% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 118,035 shares of the construction company's stock worth $2,007,000 after buying an additional 72,801 shares during the period. Institutional investors and hedge funds own 73.91% of the company's stock.

LSI Industries Trading Up 0.2%

NASDAQ LYTS traded up $0.04 during trading on Friday, reaching $23.29. 125,141 shares of the stock traded hands, compared to its average volume of 209,706. The firm has a market cap of $696.84 million, a price-to-earnings ratio of 29.48 and a beta of 0.27. The stock's 50-day moving average price is $19.27 and its 200 day moving average price is $17.50. The company has a quick ratio of 1.25, a current ratio of 2.08 and a debt-to-equity ratio of 0.24. LSI Industries Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $25.50.

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 analysts' consensus estimates of $0.17 by $0.09. The firm had revenue of $155.07 million during the quarter, compared to analysts' expectations of $138.89 million. LSI Industries had a net margin of 4.25% and a return on equity of 11.25%. Analysts predict that LSI Industries Inc. will post 0.7 EPS for the current year.

LSI Industries Dividend Announcement

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

Insider Activity at LSI Industries

In related news, VP Thomas A. Caneris sold 7,544 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $23.08, for a total transaction of $174,115.52. Following the completion of the transaction, the vice president owned 114,016 shares in the company, valued at approximately $2,631,489.28. The trade was a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James E. Galeese sold 6,064 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $23.08, for a total transaction of $139,957.12. Following the transaction, the chief financial officer owned 173,288 shares of the company's stock, valued at approximately $3,999,487.04. This represents a 3.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,205 shares of company stock worth $927,931. 8.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LYTS. Canaccord Genuity Group lifted their price target on shares of 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 upgraded shares of LSI Industries from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 24th. Finally, Craig Hallum reiterated a "buy" rating and set a $28.00 price target on shares of LSI Industries in a research report on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $27.67.

LSI Industries Company 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.