Summit Global Investments Takes Position in LSI Industries Inc. (NASDAQ:LYTS)

Summit Global Investments acquired a new position in shares of LSI Industries Inc. (NASDAQ:LYTS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,631 shares of the construction company’s stock, valued at approximately $323,000. Summit Global Investments owned about 0.06% of LSI Industries as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in LSI Industries in the 3rd quarter worth approximately $39,000. Fortitude Family Office LLC increased its position in LSI Industries by 1,559.9% during the fourth quarter. Fortitude Family Office LLC now owns 3,187 shares of the construction company’s stock worth $62,000 after acquiring an additional 2,995 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in LSI Industries during the 3rd quarter valued at $205,000. Catalina Capital Group LLC bought a new stake in LSI Industries in the 4th quarter valued at $253,000. Finally, Bailard Inc. acquired a new stake in LSI Industries in the 4th quarter worth $260,000. Institutional investors own 73.91% of the company’s stock.

LSI Industries Stock Up 3.4 %

Shares of LYTS stock opened at $17.92 on Tuesday. LSI Industries Inc. has a one year low of $13.63 and a one year high of $25.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.08 and a quick ratio of 1.20. The stock has a fifty day moving average price of $19.41 and a 200 day moving average price of $18.56. The stock has a market cap of $536.18 million, a P/E ratio of 23.27 and a beta of 1.00.

LSI Industries (NASDAQ:LYTS) last issued its earnings results on Thursday, January 23rd. The construction company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). LSI Industries had a net margin of 4.47% and a return on equity of 11.25%. Analysts predict that LSI Industries Inc. will post 0.7 earnings per share for the current year.

LSI Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Monday, February 3rd were issued a $0.05 dividend. The ex-dividend date was Monday, February 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.12%. LSI Industries’s payout ratio is presently 25.97%.

Analyst Ratings Changes

A number of research analysts have recently commented on LYTS shares. HC Wainwright upped their price objective on shares of LSI Industries from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Canaccord Genuity Group boosted their price target on LSI Industries from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, January 24th.

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.