State of Wyoming Purchases Shares of 14,360 LSI Industries Inc. $LYTS

Key Points

• The State of Wyoming has acquired a new stake in LSI Industries Inc., purchasing 14,360 shares valued at approximately $244,000.
• Analysts have recently upgraded LSI Industries from a "buy" rating to a "strong-buy" rating, with a consensus target price of $27.67.
• LSI Industries has announced a quarterly dividend of $0.05 per share, representing a 0.9% dividend yield, payable on September 10th.

State of Wyoming purchased a new stake in shares of LSI Industries Inc. (NASDAQ:LYTS - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,360 shares of the construction company's stock, valued at approximately $244,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LYTS. Wells Fargo & Company MN grew its position in LSI Industries by 44.8% during the fourth quarter. Wells Fargo & Company MN now owns 14,623 shares of the construction company's stock valued at $284,000 after acquiring an additional 4,525 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of LSI Industries in the fourth quarter worth approximately $362,000. MetLife Investment Management LLC lifted its stake in LSI Industries by 8.9% in the fourth quarter. MetLife Investment Management LLC now owns 16,659 shares of the construction company's stock worth $324,000 after acquiring an additional 1,362 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in LSI Industries by 9.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,911 shares of the construction company's stock worth $504,000 after acquiring an additional 2,206 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in LSI Industries in the fourth quarter worth $46,000. 73.91% of the stock is currently owned by institutional investors.

Insider Transactions at LSI Industries

In other news, CFO James E. Galeese sold 6,064 shares of LSI Industries stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $23.08, for a total value of $139,957.12. Following the completion of the transaction, the chief financial officer owned 173,288 shares of the company's stock, valued at $3,999,487.04. The trade was a 3.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas A. Caneris sold 7,544 shares of LSI Industries stock in a transaction dated Wednesday, August 27th. The stock was 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 directly owned 114,016 shares of the company's stock, valued at approximately $2,631,489.28. This represents a 6.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,205 shares of company stock valued at $927,931 in the last quarter. 8.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen raised LSI Industries from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 24th. Canaccord Genuity Group raised their price target on LSI Industries from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Finally, Craig Hallum reaffirmed a "buy" rating and issued a $28.00 price target on shares of LSI Industries in a research note on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, LSI Industries currently has an average rating of "Buy" and a consensus target price of $27.67.

LSI Industries Stock Performance

Shares of LSI Industries stock opened at $22.76 on Thursday. 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 firm has a market capitalization of $680.98 million, a P/E ratio of 28.81 and a beta of 0.27. The business has a fifty day simple moving average of $19.02 and a two-hundred day simple moving average of $17.49. LSI Industries Inc. has a 12 month low of $13.77 and a 12 month high of $25.50.

LSI Industries (NASDAQ:LYTS - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.17 by $0.09. The business had revenue of $155.07 million during the quarter, compared to analyst estimates of $138.89 million. LSI Industries had a return on equity of 11.25% and a net margin of 4.25%. On average, equities analysts forecast that LSI Industries Inc. will post 0.7 earnings per share for the current fiscal year.

LSI Industries Dividend Announcement

The business 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. This represents a $0.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. LSI Industries's payout ratio is currently 25.32%.

LSI Industries Company 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.

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