Nuveen LLC Takes $1.43 Million Position in LSI Industries Inc. $LYTS

Key Points

• Nuveen LLC purchased 84,264 shares of LSI Industries Inc. for approximately $1.43 million, increasing its stake to 0.28% of the company.
• Insiders sold 40,205 shares of LSI Industries stock valued at nearly $928,000 over the last ninety days, indicating some movement among management.
• LSI Industries reported earnings of $0.26 EPS for the recent quarter, exceeding the estimate of $0.17, with revenue of $155.07 million, surpassing analyst expectations of $138.89 million.

Nuveen LLC bought a new stake in LSI Industries Inc. (NASDAQ:LYTS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 84,264 shares of the construction company's stock, valued at approximately $1,432,000. Nuveen LLC owned 0.28% of LSI Industries as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC purchased a new stake in LSI Industries in the fourth quarter valued at approximately $46,000. State of Tennessee Department of Treasury purchased a new stake in LSI Industries in the fourth quarter valued at approximately $186,000. GAMMA Investing LLC raised its position in LSI Industries by 4,116.3% in the first quarter. GAMMA Investing LLC now owns 10,625 shares of the construction company's stock valued at $181,000 after purchasing an additional 10,373 shares during the period. Harmony Asset Management LLC purchased a new stake in shares of LSI Industries during the fourth quarter worth $214,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of LSI Industries during the fourth quarter worth $248,000. Hedge funds and other institutional investors own 73.91% of the company's stock.

LSI Industries Stock Up 2.1%

Shares of LYTS stock traded up $0.47 on Thursday, reaching $23.23. 45,007 shares of the stock were exchanged, compared to its average volume of 145,974. The company has a current ratio of 2.08, a quick ratio of 1.25 and a debt-to-equity ratio of 0.24. The business's 50 day moving average price is $19.02 and its 200 day moving average price is $17.49. The company has a market capitalization of $695.10 million, a price-to-earnings ratio of 29.35 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.

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

LSI Industries Dividend Announcement

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

Insider Buying and Selling at LSI Industries

In other LSI Industries news, VP Thomas A. Caneris sold 7,544 shares of the company'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 $174,115.52. Following the completion of the transaction, the vice president owned 114,016 shares in the company, valued at $2,631,489.28. This represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Anthony Clark sold 26,597 shares of the company'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 transaction, the chief executive officer owned 421,313 shares of the company's stock, valued at $9,723,904.04. This represents a 5.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,205 shares of company stock worth $927,931 over the last 90 days. Corporate insiders own 8.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LYTS. Wall Street Zen raised LSI Industries from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 24th. Canaccord Genuity Group upped 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. Finally, Craig Hallum reaffirmed a "buy" rating and set a $28.00 price objective on shares of LSI Industries in a research report on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $27.67.

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.