Meeder Asset Management Inc. Acquires 3,801 Shares of Acuity, Inc. $AYI

Key Points

• Meeder Asset Management sharply increased its stake in Acuity, buying 3,801 additional shares in the first quarter and lifting its holdings to 4,089 shares worth about $1.15 million.
• Acuity reported better-than-expected quarterly results, posting EPS of $5.31 versus estimates of $5.17 and revenue of $1.20 billion versus $1.18 billion expected, while also announcing a quarterly dividend of $0.20 per share.
• Wall Street sentiment remains constructive: analysts now have a Moderate Buy consensus on AYI, with an average price target of $397.17, even as the stock traded down about 1.9% to $327.47.

Meeder Asset Management Inc. increased its holdings in shares of Acuity, Inc. (NYSE:AYI - Free Report) by 1,319.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,089 shares of the electronics maker's stock after purchasing an additional 3,801 shares during the period. Meeder Asset Management Inc.'s holdings in Acuity were worth $1,146,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AYI. Assetmark Inc. boosted its holdings in shares of Acuity by 6.4% during the 4th quarter. Assetmark Inc. now owns 617 shares of the electronics maker's stock worth $222,000 after buying an additional 37 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Acuity by 1.8% in the 2nd quarter. Brown Advisory Inc. now owns 2,134 shares of the electronics maker's stock valued at $637,000 after acquiring an additional 37 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Acuity by 1.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,488 shares of the electronics maker's stock valued at $857,000 after acquiring an additional 38 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its position in shares of Acuity by 0.6% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 6,805 shares of the electronics maker's stock valued at $2,450,000 after acquiring an additional 41 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Acuity by 1.8% during the first quarter. Parallel Advisors LLC now owns 2,338 shares of the electronics maker's stock worth $655,000 after acquiring an additional 41 shares in the last quarter. 98.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Maya Leibman acquired 200 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was purchased at an average cost of $288.83 per share, with a total value of $57,766.00. Following the acquisition, the director owned 400 shares of the company's stock, valued at approximately $115,532. This trade represents a 100.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AYI shares. Wall Street Zen upgraded shares of Acuity from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. Robert W. Baird increased their price objective on shares of Acuity from $315.00 to $390.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Oppenheimer set a $465.00 target price on Acuity in a research note on Friday, June 26th. The Goldman Sachs Group boosted their target price on Acuity from $295.00 to $358.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. Finally, Weiss Ratings raised Acuity from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $397.17.

Acuity Stock Down 1.9%

Acuity stock opened at $327.47 on Tuesday. Acuity, Inc. has a 1-year low of $257.04 and a 1-year high of $380.17. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 1.83 and a beta of 1.27. The firm's fifty day moving average price is $315.01 and its two-hundred day moving average price is $305.14. The company has a current ratio of 2.05, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24.

Acuity (NYSE:AYI - Get Free Report) last issued its quarterly earnings data on Thursday, June 25th. The electronics maker reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.17 by $0.14. Acuity had a net margin of 10.25% and a return on equity of 20.26%. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.18 billion. During the same period last year, the company earned $5.12 earnings per share. The business's revenue was up 1.6% on a year-over-year basis. On average, equities research analysts predict that Acuity, Inc. will post 18.28 earnings per share for the current fiscal year.

Acuity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 17th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, July 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Acuity's payout ratio is 5.31%.

Acuity Profile

Acuity Brands, Inc NYSE: AYI is a leading provider of lighting fixtures, controls and building management solutions designed for commercial, institutional, industrial and residential markets. The company's core offerings include a broad range of LED luminaires, lighting controls, sensors and networked building systems that enhance energy efficiency, occupant comfort and operational productivity. Acuity Brands' portfolio spans indoor and outdoor lighting fixtures, emergency lighting, task lighting and architectural products, as well as advanced controls such as daylight harvesting, occupancy sensing and wireless sensor networks.

Beyond traditional lighting, Acuity Brands delivers integrated digital solutions through its Connected Building platform, which combines smart sensors, cloud-based analytics and mobile applications to enable real-time monitoring and remote management of lighting and environmental systems.

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