Alliancebernstein L.P. Takes Position in LSI Industries Inc. (LYTS)
Alliancebernstein L.P. bought a new stake in LSI Industries Inc. (NASDAQ:LYTS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,800 shares of the construction company’s stock, valued at approximately $152,000. Alliancebernstein L.P. owned approximately 0.07% of LSI Industries as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Genesee Valley Trust Co. purchased a new stake in shares of LSI Industries in the second quarter valued at about $103,000. American International Group Inc. boosted its holdings in shares of LSI Industries by 7.0% in the first quarter. American International Group Inc. now owns 14,638 shares of the construction company’s stock valued at $148,000 after acquiring an additional 963 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of LSI Industries by 19.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 15,947 shares of the construction company’s stock valued at $161,000 after acquiring an additional 2,645 shares in the last quarter. UBS Group AG boosted its holdings in shares of LSI Industries by 5.6% in the first quarter. UBS Group AG now owns 16,670 shares of the construction company’s stock valued at $168,000 after acquiring an additional 890 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of LSI Industries in the second quarter valued at about $172,000. 71.99% of the stock is currently owned by institutional investors and hedge funds.
In other LSI Industries news, VP James E. Galeese bought 9,025 shares of the business’s stock in a transaction on Monday, August 21st. The stock was bought at an average price of $5.53 per share, for a total transaction of $49,908.25. Following the completion of the transaction, the vice president now owns 824 shares in the company, valued at approximately $4,556.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Howard E. Japlon bought 10,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were acquired at an average price of $5.90 per share, with a total value of $59,000.00. Following the transaction, the vice president now owns 18,500 shares of the company’s stock, valued at approximately $109,150. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 42,525 shares of company stock valued at $249,675. 6.37% of the stock is currently owned by company insiders.
Shares of LSI Industries Inc. (NASDAQ:LYTS) opened at $6.72 on Thursday. The company has a market cap of $176.67, a PE ratio of 34.25, a P/E/G ratio of 1.37 and a beta of 1.69. LSI Industries Inc. has a fifty-two week low of $4.99 and a fifty-two week high of $10.68. The company has a current ratio of 2.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.36.
LSI Industries (NASDAQ:LYTS) last released its quarterly earnings data on Thursday, October 26th. The construction company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $87.47 million for the quarter, compared to the consensus estimate of $82.45 million. LSI Industries had a negative net margin of 4.02% and a positive return on equity of 3.27%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share. analysts forecast that LSI Industries Inc. will post 0.2 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Friday, November 3rd. LSI Industries’s payout ratio is currently -38.46%.
Several analysts have recently weighed in on the stock. Roth Capital downgraded shares of LSI Industries to a “hold” rating and set a $6.00 target price on the stock. in a report on Thursday, August 17th. TheStreet downgraded shares of LSI Industries from a “b-” rating to a “c+” rating in a report on Thursday, August 10th. Canaccord Genuity reaffirmed a “buy” rating and issued a $9.00 target price on shares of LSI Industries in a report on Monday, August 7th. Finally, Zacks Investment Research raised shares of LSI Industries from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a report on Wednesday, November 1st.
LSI Industries Profile
LSI Industries Inc is a provider of corporate visual image solutions to the petroleum/convenience store industry. The Company designs and develops aspects of the solid-state light emitting diode (LED) lighting, from the electronic circuit board, to the software to drive and control the LEDs, to the structure of the LED product.
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