LSI Industries Inc. $LYTS Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in LSI Industries by 3.0%, owning approximately 5.43% of the company, amounting to about $27.6 million.
• Several analysts have upgraded LSI Industries' stock rating, with Wall Street Zen raising it to "strong-buy" and Canaccord Genuity increasing the price objective from $22.00 to $25.00.
• LSI Industries reported earnings of $0.26 per share, exceeding analyst estimates, alongside announcing a quarterly dividend of $0.05 per share with a 0.9% yield.

Vanguard Group Inc. grew its position in LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,624,265 shares of the construction company's stock after acquiring an additional 47,341 shares during the quarter. Vanguard Group Inc. owned about 5.43% of LSI Industries worth $27,613,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rhumbline Advisers boosted its holdings in shares of LSI Industries by 2.1% in the first quarter. Rhumbline Advisers now owns 41,378 shares of the construction company's stock valued at $703,000 after acquiring an additional 858 shares during the period. GAMMA Investing LLC grew its position in 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 last quarter. Bank of America Corp DE grew its position in 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 last quarter. Squarepoint Ops LLC grew its position in 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 last quarter. Finally, MetLife Investment Management LLC grew its position in LSI Industries by 8.9% in the 4th quarter. MetLife Investment Management LLC now owns 16,659 shares of the construction company's stock valued at $324,000 after buying an additional 1,362 shares during the last quarter. 73.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity

In other LSI Industries news, CFO James E. Galeese sold 6,064 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $23.08, for a total value of $139,957.12. Following the transaction, the chief financial officer directly owned 173,288 shares in the company, valued at approximately $3,999,487.04. This represents a 3.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Anthony Clark sold 26,597 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 421,313 shares in the company, valued at approximately $9,723,904.04. This trade represents a 5.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,205 shares of company stock worth $927,931 over the last 90 days. 8.20% of the stock is currently owned by corporate insiders.

LSI Industries Price Performance

Shares of LYTS stock traded down $0.16 during mid-day trading on Tuesday, reaching $22.73. The stock had a trading volume of 21,954 shares, compared to its average volume of 145,989. LSI Industries Inc. has a 12-month low of $13.77 and a 12-month high of $25.50. The company has a market cap of $679.93 million, a P/E ratio of 28.77 and a beta of 0.27. The business has a 50-day simple moving average of $18.77 and a 200 day simple moving average of $17.42. 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 (NASDAQ:LYTS - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The construction company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $138.89 million. On average, sell-side analysts anticipate that LSI Industries Inc. will post 0.7 earnings per share for the current year.

LSI Industries Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, September 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. LSI Industries's dividend payout ratio (DPR) 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.