First Eagle Investment Management LLC Sells 22,000 Shares of LSI Industries Inc. $LYTS

First Eagle Investment Management LLC decreased its position in shares of LSI Industries Inc. (NASDAQ:LYTS) by 6.6% in the second quarter, HoldingsChannel reports. The firm owned 309,922 shares of the construction company’s stock after selling 22,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in LSI Industries were worth $5,272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of LSI Industries during the 1st quarter worth about $1,432,000. Knights of Columbus Asset Advisors LLC raised its stake in LSI Industries by 160.9% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 118,035 shares of the construction company’s stock valued at $2,007,000 after buying an additional 72,801 shares during the last quarter. Vanguard Group Inc. grew its position in LSI Industries by 3.0% during the 1st 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 during the last quarter. Jane Street Group LLC purchased a new stake in shares of LSI Industries during the first quarter valued at $560,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in LSI Industries in the second quarter valued at approximately $473,000. Hedge funds and other institutional investors own 73.91% of the company’s stock.

Insider Buying and Selling

In other LSI Industries news, CFO James E. Galeese sold 54,575 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $23.29, for a total transaction of $1,271,051.75. Following the transaction, the chief financial officer owned 173,288 shares of the company’s stock, valued at $4,035,877.52. This represents a 23.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James Anthony Clark sold 26,597 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $23.08, for a total transaction of $613,858.76. Following the transaction, the chief executive officer owned 421,313 shares in the company, valued at approximately $9,723,904.04. The trade was a 5.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 94,780 shares of company stock worth $2,198,983 in the last ninety days. Insiders own 7.30% of the company’s stock.

LSI Industries Stock Performance

NASDAQ LYTS opened at $19.44 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.99 and a debt-to-equity ratio of 0.19. The firm has a market cap of $594.24 million, a P/E ratio of 24.61 and a beta of 0.25. The business’s 50-day moving average price is $22.88 and its 200 day moving average price is $19.32. LSI Industries Inc. has a 52-week low of $13.77 and a 52-week high of $25.50.

LSI Industries (NASDAQ:LYTS) last released its earnings results on Friday, September 9th. The construction company reported $0.12 EPS for the quarter. The company had revenue of $97.02 million during the quarter. LSI Industries had a net margin of 4.25% and a return on equity of 11.07%. On average, equities research analysts expect that LSI Industries Inc. will post 0.7 earnings per share for the current year.

LSI Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Monday, November 17th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, November 17th. LSI Industries’s payout ratio is 25.00%.

Analysts Set New Price Targets

LYTS has been the topic of a number of analyst reports. Canaccord Genuity Group raised their price objective on shares of LSI Industries from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 25th. Craig Hallum reissued a “buy” rating and set a $28.00 price target on shares of LSI Industries in a research report on Friday, August 22nd. Zacks Research raised shares of LSI Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings upgraded LSI Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Finally, Wall Street Zen upgraded shares of LSI Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 24th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, LSI Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

LSI Industries 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.