Thomas Caneris Sells 109,226 Shares of LSI Industries (NASDAQ:LYTS) Stock

LSI Industries Inc. (NASDAQ:LYTS) EVP Thomas Caneris sold 109,226 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $24.29, for a total transaction of $2,653,099.54. Following the transaction, the executive vice president directly owned 64,790 shares of the company’s stock, valued at $1,573,749.10. This trade represents a 62.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

LSI Industries Trading Down 0.0%

Shares of LYTS stock opened at $24.09 on Wednesday. LSI Industries Inc. has a 12-month low of $15.99 and a 12-month high of $24.99. The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average price is $21.54 and its 200-day moving average price is $20.49. The stock has a market capitalization of $884.34 million, a price-to-earnings ratio of 32.12 and a beta of 0.53.

LSI Industries (NASDAQ:LYTS) last posted its earnings results on Thursday, April 23rd. The construction company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.34). The firm had revenue of $150.53 million during the quarter, compared to analysts’ expectations of $163.53 million. LSI Industries had a return on equity of 8.90% and a net margin of 3.91%. Equities research analysts predict that LSI Industries Inc. will post 0.81 EPS for the current fiscal year.

LSI Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Monday, May 4th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, May 4th. LSI Industries’s dividend payout ratio is 26.67%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LYTS shares. Weiss Ratings lowered shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Zacks Research upgraded shares of LSI Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Wall Street Zen downgraded shares of LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.33.

Institutional Trading of LSI Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its stake in LSI Industries by 1.2% in the first quarter. Quantinno Capital Management LP now owns 46,120 shares of the construction company’s stock worth $858,000 after purchasing an additional 536 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in LSI Industries in the 1st quarter valued at $1,404,000. Aristides Capital LLC grew its position in LSI Industries by 96.6% in the 1st quarter. Aristides Capital LLC now owns 103,244 shares of the construction company’s stock valued at $1,920,000 after acquiring an additional 50,728 shares during the last quarter. Sei Investments Co. grew its holdings in shares of LSI Industries by 259.7% in the first quarter. Sei Investments Co. now owns 264,336 shares of the construction company’s stock worth $4,917,000 after purchasing an additional 190,840 shares during the last quarter. Finally, State of Wyoming increased its position in shares of LSI Industries by 58.3% during the first quarter. State of Wyoming now owns 10,500 shares of the construction company’s stock worth $195,000 after acquiring an additional 3,868 shares during the period. 73.91% of the stock is owned by hedge funds and other institutional investors.

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.