Wellington Management Group LLP Sells 31,100 Shares of LSI Industries Inc. $LYTS

Key Points

• Wellington Management Group LLP has reduced its stake in LSI Industries by 5.4%, now holding approximately $9.24 million worth of the company's stock.
• LSI Industries' recent quarterly earnings surpassed analysts' expectations, reporting $0.26 earnings per share compared to the forecasted $0.17, with revenues also exceeding estimates.
• The company announced a quarterly dividend of $0.05, resulting in an annual yield of 0.9%, with a dividend payout ratio of 25.32%.

Wellington Management Group LLP lessened its holdings in LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 543,261 shares of the construction company's stock after selling 31,100 shares during the quarter. Wellington Management Group LLP owned 1.82% of LSI Industries worth $9,235,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Systematic Financial Management LP lifted its position in shares of LSI Industries by 4.3% in the fourth quarter. Systematic Financial Management LP now owns 2,542,844 shares of the construction company's stock worth $49,382,000 after purchasing an additional 103,724 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of LSI Industries by 3.0% in the first quarter. Vanguard Group Inc. now owns 1,624,265 shares of the construction company's stock worth $27,613,000 after purchasing an additional 47,341 shares in the last quarter. G2 Investment Partners Management LLC lifted its position in shares of LSI Industries by 1.4% in the fourth quarter. G2 Investment Partners Management LLC now owns 406,929 shares of the construction company's stock worth $7,903,000 after purchasing an additional 5,470 shares in the last quarter. Northern Trust Corp raised its position in LSI Industries by 9.9% during the fourth quarter. Northern Trust Corp now owns 268,521 shares of the construction company's stock worth $5,215,000 after acquiring an additional 24,121 shares in the last quarter. Finally, Annex Advisory Services LLC raised its position in LSI Industries by 1.7% during the first quarter. Annex Advisory Services LLC now owns 139,127 shares of the construction company's stock worth $2,365,000 after acquiring an additional 2,380 shares in the last quarter. Institutional investors own 73.91% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on LYTS shares. Craig Hallum reaffirmed a "buy" rating and set a $28.00 price target on shares of LSI Industries in a research report on Friday, August 22nd. Wall Street Zen raised shares of LSI Industries from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 24th. Finally, Canaccord Genuity Group increased their price objective on shares of LSI Industries from $22.00 to $25.00 and gave the company 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 currently has a consensus rating of "Buy" and a consensus price target of $27.67.

Insider Activity

In other news, VP Thomas A. Caneris sold 7,544 shares of the firm's stock in a transaction that occurred 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 sale, the vice president directly owned 114,016 shares in the company, valued at approximately $2,631,489.28. This trade represents a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Anthony Clark sold 26,597 shares of the firm's stock in a transaction that occurred 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 approximately $9,723,904.04. This trade represents a 5.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,205 shares of company stock worth $927,931. Corporate insiders own 8.20% of the company's stock.

LSI Industries Stock Performance

Shares of LYTS stock traded down $0.26 on Tuesday, hitting $22.63. The company's stock had a trading volume of 26,191 shares, compared to its average volume of 146,010. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.25 and a current ratio of 2.08. The stock's 50 day moving average is $18.77 and its 200-day moving average is $17.42. LSI Industries Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $25.50. The company has a market capitalization of $676.94 million, a PE ratio of 28.59 and a beta of 0.27.

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

LSI Industries Announces Dividend

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 paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 2nd. LSI Industries's dividend payout ratio (DPR) is presently 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.