Wellington Management Group LLP Buys 70,033 Shares of LSI Industries Inc. $LYTS

Wellington Management Group LLP raised its stake in shares of LSI Industries Inc. (NASDAQ:LYTS) by 5.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,372,841 shares of the construction company’s stock after acquiring an additional 70,033 shares during the period. Wellington Management Group LLP’s holdings in LSI Industries were worth $36,490,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. PenderFund Capital Management Ltd. purchased a new stake in shares of LSI Industries in the second quarter valued at about $41,000. Punch & Associates Investment Management Inc. bought a new stake in LSI Industries in the 2nd quarter worth about $4,454,000. Bank of America Corp DE purchased a new stake in LSI Industries in the 2nd quarter valued at about $1,301,000. Freestone Grove Partners LP purchased a new stake in LSI Industries in the 2nd quarter valued at about $59,000. Finally, Odyssean LLC bought a new position in shares of LSI Industries during the 2nd quarter worth approximately $446,000. Institutional investors own 73.91% of the company’s stock.

LSI Industries Stock Performance

Shares of LYTS stock opened at $20.23 on Friday. The stock has a market capitalization of $742.64 million, a P/E ratio of 30.19 and a beta of 0.52. 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 firm’s 50 day moving average is $23.40 and its 200 day moving average is $22.52. LSI Industries Inc. has a 12 month low of $17.20 and a 12 month high of $27.36.

LSI Industries (NASDAQ:LYTS) last released its quarterly earnings data on Thursday, August 20th. The construction company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. LSI Industries had a net margin of 3.28% and a return on equity of 8.04%. The business had revenue of $234.62 million during the quarter, compared to analyst estimates of $222.78 million. On average, sell-side analysts anticipate that LSI Industries Inc. will post 0.82 earnings per share for the current year.

LSI Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 31st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. LSI Industries’s dividend payout ratio (DPR) is presently 29.85%.

Insider Buying and Selling

In other LSI Industries news, CFO James E. Galeese sold 8,269 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $20.09, for a total value of $166,124.21. Following the completion of the transaction, the chief financial officer owned 190,740 shares in the company, valued at $3,831,966.60. This trade represents a 4.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Clark sold 23,706 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $20.09, for a total value of $476,253.54. Following the sale, the chief executive officer owned 609,641 shares in the company, valued at approximately $12,247,687.69. This represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 96,345 shares of company stock valued at $1,928,267 in the last ninety days. 7.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LYTS. Morgan Stanley set a $30.00 target price on LSI Industries in a report on Friday, August 21st. HC Wainwright reiterated a “buy” rating on shares of LSI Industries in a research note on Friday, August 21st. Weiss Ratings downgraded shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Oppenheimer decreased their price objective on shares of LSI Industries from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, August 21st. Finally, Wall Street Zen cut shares of LSI Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

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.