Kornitzer Capital Management Inc. KS Invests $641,000 in LSI Industries Inc. $LYTS

Kornitzer Capital Management Inc. KS bought a new position in shares of LSI Industries Inc. (NASDAQ:LYTS) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 34,469 shares of the construction company’s stock, valued at approximately $641,000.

Several other institutional investors also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in LSI Industries by 205.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,534 shares of the construction company’s stock valued at $28,000 after acquiring an additional 1,031 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of LSI Industries by 57.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company’s stock worth $31,000 after purchasing an additional 625 shares during the period. Strs Ohio purchased a new position in shares of LSI Industries during the 1st quarter valued at approximately $34,000. New York State Teachers Retirement System purchased a new position in shares of LSI Industries during the 4th quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of LSI Industries during the 2nd quarter valued at approximately $47,000. 73.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO James E. Galeese sold 136,578 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $24.29, for a total value of $3,317,479.62. Following the transaction, the chief financial officer owned 173,288 shares in the company, valued at $4,209,165.52. This trade represents a 44.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wilfred T. Ogara sold 10,369 shares of LSI Industries stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $24.09, for a total value of $249,789.21. Following the completion of the sale, the director directly owned 103,686 shares in the company, valued at $2,497,795.74. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 256,173 shares of company stock worth $6,220,368. Corporate insiders own 7.30% of the company’s stock.

LSI Industries Stock Performance

LYTS opened at $23.75 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58. The company has a market cap of $871.86 million, a price-to-earnings ratio of 31.67 and a beta of 0.53. LSI Industries Inc. has a 52-week low of $17.20 and a 52-week high of $27.36. The firm’s fifty day simple moving average is $24.62 and its two-hundred day simple moving average is $21.91.

LSI Industries (NASDAQ:LYTS) last released 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). LSI Industries had a return on equity of 8.90% and a net margin of 3.91%.The company had revenue of $150.53 million for the quarter, compared to analysts’ expectations of $163.53 million. Equities analysts anticipate that LSI Industries Inc. will post 0.78 earnings per share for the current fiscal year.

LSI Industries Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on LYTS shares. Weiss Ratings raised shares of LSI Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 24th. Wall Street Zen cut shares of LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Oppenheimer assumed coverage on shares of LSI Industries in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, Zacks Research raised shares of LSI Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.75.

LSI Industries Profile

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.