LSI Industries Inc. $LYTS Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. significantly reduced its stake in LSI Industries by 81.7%, holding 44,557 shares valued at approximately $757,000 after selling 199,224 shares.
• LSI Industries reported a quarterly earnings per share (EPS) of $0.26, surpassing analyst expectations of $0.17, with revenues of $155.07 million for the quarter.
• The company declared a quarterly dividend of $0.05 per share, set to be paid on September 10th, representing a 0.9% dividend yield.

Invesco Ltd. lessened its holdings in shares of LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 81.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,557 shares of the construction company's stock after selling 199,224 shares during the period. Invesco Ltd. owned 0.15% of LSI Industries worth $757,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of LSI Industries by 2.1% in the 1st quarter. Rhumbline Advisers now owns 41,378 shares of the construction company's stock valued at $703,000 after buying an additional 858 shares during the period. GAMMA Investing LLC grew its stake in shares of LSI Industries by 4,116.3% in the 1st quarter. GAMMA Investing LLC now owns 10,625 shares of the construction company's stock valued at $181,000 after buying an additional 10,373 shares during the period. Vanguard Group Inc. grew its stake in shares of LSI Industries by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 1,624,265 shares of the construction company's stock valued at $27,613,000 after buying an additional 47,341 shares during the period. Bank of America Corp DE grew its stake in shares of LSI Industries by 86.3% in the 4th quarter. Bank of America Corp DE now owns 70,356 shares of the construction company's stock valued at $1,366,000 after buying an additional 32,600 shares during the period. Finally, Squarepoint Ops LLC grew its stake in shares of LSI Industries by 18.0% in the 4th quarter. Squarepoint Ops LLC now owns 16,254 shares of the construction company's stock valued at $316,000 after buying an additional 2,476 shares during the period. Hedge funds and other institutional investors own 73.91% of the company's stock.

Insiders Place Their Bets

In other news, CFO James E. Galeese sold 6,064 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $23.08, for a total value of $139,957.12. Following the sale, the chief financial officer directly owned 173,288 shares in the company, valued at approximately $3,999,487.04. This trade represents a 3.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Anthony Clark sold 26,597 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $23.08, for a total transaction of $613,858.76. Following the completion of the sale, the chief executive officer owned 421,313 shares in the company, valued at $9,723,904.04. The trade was a 5.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,205 shares of company stock worth $927,931 in the last ninety days. 8.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LYTS has been the subject of several analyst reports. Craig Hallum reissued a "buy" rating and issued a $28.00 price target on shares of LSI Industries in a research note on Friday, August 22nd. Wall Street Zen raised shares of LSI Industries from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 24th. Finally, Canaccord Genuity Group increased their price objective 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. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $27.67.

LSI Industries Stock Down 4.7%

LSI Industries stock traded down $1.11 during mid-day trading on Tuesday, reaching $22.72. 421,665 shares of the company's stock were exchanged, compared to its average volume of 225,069. The company has a market cap of $679.78 million, a P/E ratio of 28.76 and a beta of 0.27. LSI Industries Inc. has a twelve month low of $13.77 and a twelve month high of $25.50. The company has a quick ratio of 1.25, a current ratio of 2.08 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average of $19.52 and a 200-day moving average of $17.55.

LSI Industries (NASDAQ:LYTS - Get Free Report) last released its earnings results on Thursday, August 21st. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.09. The company had revenue of $155.07 million for the quarter, compared to analyst estimates of $138.89 million. LSI Industries had a net margin of 4.25% and a return on equity of 11.25%. Sell-side analysts expect that LSI Industries Inc. will post 0.7 EPS for the current year.

LSI Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 dividend payout ratio is 25.32%.

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.