James E. Galeese Sells 54,575 Shares of LSI Industries (NASDAQ:LYTS) Stock

Key Points

• James Galeese, CFO of LSI Industries, sold 54,575 shares at an average price of $23.29, totaling over $1.27 million, which marked a 23.95% decrease in his position.
• LSI Industries reported a quarterly earnings per share of $0.26, exceeding estimates and recording a net margin of 4.25% with revenues of $155.07 million.
• The company declared a quarterly dividend of $0.05 per share, with an annualized yield of 0.9% and a payout ratio of 25.32%.

LSI Industries Inc. (NASDAQ:LYTS - Get Free Report) CFO James E. Galeese sold 54,575 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $23.29, for a total transaction of $1,271,051.75. Following the completion of the sale, the chief financial officer directly owned 173,288 shares in the company, valued at approximately $4,035,877.52. The trade was a 23.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

LSI Industries Price Performance

NASDAQ LYTS traded up $0.50 on Monday, reaching $22.97. The company's stock had a trading volume of 228,392 shares, compared to its average volume of 151,299. The firm has a market cap of $687.29 million, a PE ratio of 29.08 and a beta of 0.27. The business has a 50-day moving average price of $19.81 and a 200 day moving average price of $17.63. LSI Industries Inc. has a 52 week low of $13.77 and a 52 week high of $25.50. The company has a current ratio of 1.99, a quick ratio of 1.17 and a debt-to-equity ratio of 0.19.

LSI Industries (NASDAQ:LYTS - Get Free Report) last posted its earnings results on Thursday, August 21st. The construction company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.09. The business had revenue of $155.07 million for the quarter, compared to analysts' expectations of $138.89 million. LSI Industries had a net margin of 4.25% and a return on equity of 11.07%. Sell-side analysts expect that LSI Industries Inc. will post 0.7 EPS for the current year.

LSI Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 2nd. LSI Industries's dividend payout ratio (DPR) is currently 25.32%.

Hedge Funds Weigh In On LSI Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYTS. Strs Ohio bought a new position in LSI Industries during the first quarter worth about $34,000. EverSource Wealth Advisors LLC bought a new position in LSI Industries during the second quarter worth about $47,000. BNP Paribas Financial Markets boosted its holdings in LSI Industries by 22.0% during the second quarter. BNP Paribas Financial Markets now owns 4,077 shares of the construction company's stock worth $69,000 after buying an additional 736 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in LSI Industries by 141.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,363 shares of the construction company's stock worth $74,000 after buying an additional 2,555 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in LSI Industries by 133.3% during the second quarter. Quantbot Technologies LP now owns 5,611 shares of the construction company's stock worth $95,000 after buying an additional 3,206 shares during the last quarter. Institutional investors own 73.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LYTS. Craig Hallum reissued a "buy" rating and set a $28.00 price target on shares of LSI Industries in a report on Friday, August 22nd. Canaccord Genuity Group lifted their price target on shares of LSI Industries from $22.00 to $25.00 and gave the company a "buy" rating in a report on Monday, August 25th. Finally, Wall Street Zen raised shares of LSI Industries from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 24th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $27.67.

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.