LSI Industries (NASDAQ:LYTS) Director Ernest Marshall Jr Buys 2,000 Shares of Stock

Key Points

• Director Ernest Marshall Jr. bought 2,000 LSI Industries shares at $19.73 each, investing $39,460 and increasing his direct ownership by 7.51% to 28,643 shares.
• LSI Industries shares fell 3.7% to $19.59, despite quarterly results exceeding expectations: earnings were $0.38 per share versus the $0.35 consensus, while revenue reached $234.62 million.
• Analysts maintain a “Moderate Buy” consensus with a $29 average price target. The company also declared a quarterly dividend of $0.05 per share, representing a 1.0% annualized yield.

LSI Industries Inc. (NASDAQ:LYTS - Get Free Report) Director Ernest Marshall, Jr. acquired 2,000 shares of the stock in a transaction dated Monday, August 24th. The stock was bought at an average price of $19.73 per share, with a total value of $39,460.00. Following the purchase, the director directly owned 28,643 shares in the company, valued at $565,126.39. This represents a 7.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

LSI Industries Stock Down 3.7%

NASDAQ LYTS traded down $0.75 on Monday, hitting $19.59. 843,608 shares of the company were exchanged, compared to its average volume of 347,714. The company has a market cap of $719.15 million, a PE ratio of 29.24 and a beta of 0.56. LSI Industries Inc. has a 12 month low of $17.20 and a 12 month high of $27.36. The stock has a fifty day moving average of $24.59 and a 200-day moving average of $22.69. The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58.

LSI Industries (NASDAQ:LYTS - Get Free Report) last posted its quarterly earnings results on Thursday, August 20th. The construction company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. LSI Industries had a net margin of 3.28% and a return on equity of 8.04%. The firm had revenue of $234.62 million during the quarter, compared to the consensus estimate of $222.78 million. As a group, analysts forecast that LSI Industries Inc. will post 1.18 earnings per share for the current year.

LSI Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 31st will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. LSI Industries's payout ratio is presently 29.85%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley set a $30.00 price target on LSI Industries in a report on Friday. Wall Street Zen lowered LSI Industries from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Oppenheimer cut their target price on LSI Industries from $30.00 to $29.00 and set an "outperform" rating on the stock in a report on Friday. Weiss Ratings downgraded shares of LSI Industries from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th. Finally, HC Wainwright restated a "buy" rating on shares of LSI Industries in a report on Friday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $29.00.

Institutional Investors Weigh In On LSI Industries

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in LSI Industries in the 2nd quarter valued at $72,118,000. Vanguard Group Inc. grew its stake in shares of LSI Industries by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,657,475 shares of the construction company's stock worth $39,133,000 after acquiring an additional 50,722 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of LSI Industries by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,464,122 shares of the construction company's stock valued at $27,232,000 after purchasing an additional 6,783 shares during the last quarter. AltraVue Capital LLC raised its holdings in shares of LSI Industries by 8.0% in the fourth quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company's stock valued at $26,488,000 after purchasing an additional 106,693 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of LSI Industries by 5.4% during the second quarter. Wellington Management Group LLP now owns 1,372,841 shares of the construction company's stock valued at $36,490,000 after purchasing an additional 70,033 shares in the last quarter. Institutional investors own 73.91% of the company's stock.

About LSI Industries

LSI Industries, Inc NASDAQ: LYTS is a diversified manufacturer and distributor of lighting, graphics and building technology products. Headquartered in Cincinnati, Ohio, the company develops energy-efficient LED lighting systems, branded and digital graphic displays, and integrated building technology solutions. Serving customers in the retail, quick-service and convenience store, industrial, hospitality and transportation markets, LSI combines design, engineering and manufacturing capabilities to address both aesthetic and functional needs.

In its lighting segment, LSI offers interior and exterior LED fixtures, canopy lights, high-bay and low-bay systems, and specialized horticultural grow lights.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source