LSI Industries Inc. $LYTS Shares Purchased by Kennedy Capital Management LLC

Key Points

• Kennedy Capital Management increased its LSI Industries stake by 20.2% in the fourth quarter, and institutional investors now own a large majority of the company’s shares. Several other funds also added to their positions, signaling continued institutional interest.
• Despite the buying activity, insiders have been selling shares recently, including CFO James E. Galeese and Director Wilfred T. Ogara. Total insider sales reached 256,173 shares over the past 90 days.
• LSI Industries recently missed quarterly earnings estimates, reporting $0.06 EPS versus the expected $0.40 and revenue below forecasts. Analysts remain cautiously positive overall, with a consensus rating of “Moderate Buy” and an average price target of $28.75.

Kennedy Capital Management LLC lifted its holdings in LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 20.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 407,936 shares of the construction company's stock after acquiring an additional 68,441 shares during the quarter. Kennedy Capital Management LLC owned 1.31% of LSI Industries worth $7,473,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of LSI Industries by 3.2% in the third quarter. Vanguard Group Inc. now owns 1,657,475 shares of the construction company's stock worth $39,133,000 after acquiring an additional 50,722 shares during the period. AltraVue Capital LLC increased its stake in shares of LSI Industries by 8.0% in the fourth quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company's stock worth $26,488,000 after acquiring an additional 106,693 shares during the period. Royce & Associates LP increased its stake in shares of LSI Industries by 16.4% in the fourth quarter. Royce & Associates LP now owns 1,216,349 shares of the construction company's stock worth $22,284,000 after acquiring an additional 171,124 shares during the period. Geode Capital Management LLC increased its stake in shares of LSI Industries by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 763,182 shares of the construction company's stock worth $13,985,000 after acquiring an additional 26,700 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of LSI Industries by 70.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 742,592 shares of the construction company's stock worth $13,604,000 after acquiring an additional 306,864 shares during the period. Institutional investors and hedge funds own 73.91% of the company's stock.

Insider Activity

In other news, CFO James E. Galeese sold 136,578 shares of LSI Industries stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $24.29, for a total value of $3,317,479.62. Following the sale, the chief financial officer owned 173,288 shares in the company, valued at $4,209,165.52. This trade represents a 44.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wilfred T. Ogara sold 10,369 shares of LSI Industries stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $24.09, for a total transaction of $249,789.21. Following the completion of the sale, the director owned 103,686 shares in the company, valued at approximately $2,497,795.74. This trade represents a 9.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 256,173 shares of company stock worth $6,220,368 over the last 90 days. 7.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LYTS has been the topic of a number of research reports. Oppenheimer initiated coverage on shares of LSI Industries in a research note on Tuesday, June 9th. They issued an "outperform" rating and a $30.00 price objective on the stock. Weiss Ratings lowered shares of LSI Industries from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 22nd. Wall Street Zen lowered shares of LSI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Zacks Research upgraded shares of LSI Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, March 30th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $28.75.

LSI Industries Price Performance

LYTS stock opened at $25.58 on Monday. The firm has a market cap of $939.04 million, a PE ratio of 34.11 and a beta of 0.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.86 and a current ratio of 1.48. The firm's fifty day moving average is $22.45 and its 200 day moving average is $20.88. LSI Industries Inc. has a one year low of $16.00 and a one year high of $26.56.

LSI Industries (NASDAQ:LYTS - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The construction company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.34). The firm had revenue of $150.53 million for the quarter, compared to analyst estimates of $163.53 million. LSI Industries had a net margin of 3.91% and a return on equity of 8.90%. On average, research analysts forecast that LSI Industries Inc. will post 0.78 EPS for the current year.

LSI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Monday, May 4th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, May 4th. LSI Industries's dividend payout ratio (DPR) is presently 26.67%.

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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